Matson, Inc. (NYSE:MATX) Stock Position Raised by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 139.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,453 shares of the shipping company's stock after purchasing an additional 9,578 shares during the period. Lazard Asset Management LLC's holdings in Matson were worth $2,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Matson by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock valued at $542,759,000 after purchasing an additional 11,357 shares during the last quarter. American Century Companies Inc. lifted its holdings in Matson by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company's stock worth $146,562,000 after buying an additional 106,490 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Matson by 9.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock worth $141,551,000 after buying an additional 91,172 shares during the last quarter. Capital Research Global Investors lifted its holdings in Matson by 8.3% during the 4th quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock worth $101,590,000 after buying an additional 58,027 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Matson by 21.5% during the 4th quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock worth $89,432,000 after buying an additional 117,545 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on MATX shares. Stephens reduced their target price on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus reduced their target price on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group increased their price target on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $138.33.

Matson Stock Performance

Shares of Matson stock traded down $1.61 on Friday, reaching $109.18. 241,182 shares of the company were exchanged, compared to its average volume of 340,538. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company's 50-day moving average is $111.88 and its two-hundred day moving average is $132.75. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 9.08 and a beta of 1.30. Matson, Inc. has a 1-year low of $91.75 and a 1-year high of $169.12.

Matson (NYSE:MATX - Get Free Report) last posted its 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). Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, May 8th. Matson's payout ratio is currently 8.96%.

Insider Buying and Selling at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This trade represents a 19.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total value of $200,923.00. Following the transaction, the senior vice president now directly owns 14,712 shares of the company's stock, valued at approximately $1,738,811.28. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,682 shares of company stock valued at $1,550,551. 2.05% of the stock is owned by corporate insiders.

Matson Company Profile

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.