Matson, Inc. (NYSE:MATX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in Matson, Inc. (NYSE:MATX - Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,669 shares of the shipping company's stock after buying an additional 7,920 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Matson worth $12,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MATX. Norges Bank acquired a new position in Matson in the fourth quarter valued at approximately $35,016,000. Leigh Baldwin & CO. LLC acquired a new position in Matson in the fourth quarter valued at approximately $34,897,000. Ameriprise Financial Inc. raised its stake in shares of Matson by 73.9% during the 4th quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock worth $56,157,000 after buying an additional 177,000 shares during the period. GAMMA Investing LLC raised its stake in shares of Matson by 14,218.7% during the 1st quarter. GAMMA Investing LLC now owns 175,977 shares of the shipping company's stock worth $22,555,000 after buying an additional 174,748 shares during the period. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Matson during the 4th quarter worth approximately $20,204,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Stock Up 3.2%

MATX stock traded up $3.38 during trading on Wednesday, hitting $109.01. 318,778 shares of the company's stock were exchanged, compared to its average volume of 353,690. The business has a 50-day moving average price of $111.85 and a two-hundred day moving average price of $121.19. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 7.18 and a beta of 1.28. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a return on equity of 20.02% and a net margin of 14.72%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. As a group, equities research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th will be given a $0.36 dividend. This is an increase from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 7th. Matson's dividend payout ratio is currently 8.96%.

Insider Activity

In other news, Director Bradley D. Tilden acquired 2,752 shares of Matson stock in a transaction dated Thursday, May 29th. The shares were acquired at an average cost of $111.76 per share, with a total value of $307,563.52. Following the purchase, the director directly owned 8,180 shares of the company's stock, valued at approximately $914,196.80. This trade represents a 50.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leonard P. Isotoff sold 500 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total value of $55,735.00. Following the sale, the senior vice president owned 5,644 shares in the company, valued at approximately $629,136.68. The trade was a 8.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MATX shares. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stifel Nicolaus reduced their price objective on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group downgraded Matson from a "buy" rating to a "hold" rating and reduced their price objective for the company from $135.00 to $115.00 in a research note on Friday, July 18th. Finally, Stephens reduced their price objective on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $131.67.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.