Matson, Inc. (NYSE:MATX) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC raised its stake in Matson, Inc. (NYSE:MATX - Free Report) by 139.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,453 shares of the shipping company's stock after buying an additional 9,578 shares during the quarter. Lazard Asset Management LLC's holdings in Matson were worth $2,218,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Matson during the fourth quarter valued at about $35,016,000. Leigh Baldwin & CO. LLC acquired a new stake in Matson in the 4th quarter valued at approximately $34,897,000. Ameriprise Financial Inc. raised its position in Matson by 73.9% in the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after purchasing an additional 177,000 shares during the period. First Trust Advisors LP raised its position in Matson by 21.5% in the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock valued at $89,432,000 after purchasing an additional 117,545 shares during the period. Finally, Invesco Ltd. lifted its stake in Matson by 45.7% during the fourth quarter. Invesco Ltd. now owns 346,589 shares of the shipping company's stock worth $46,734,000 after purchasing an additional 108,774 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total transaction of $200,923.00. Following the completion of the sale, the senior vice president now 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,682 shares of company stock valued at $1,550,551. Insiders own 2.05% of the company's stock.

Matson Stock Down 1.6%

NYSE MATX traded down $1.74 during trading hours on Friday, hitting $109.05. 48,847 shares of the company were exchanged, compared to its average volume of 432,266. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 9.07 and a beta of 1.30. The company has a 50 day moving average of $111.88 and a two-hundred day moving average of $132.75. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share 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 firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. During the same period last year, the business earned $1.04 EPS. The firm's revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stephens dropped 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. Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Jefferies Financial Group boosted their price target on shares of Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Matson has an average rating of "Hold" and an average price target of $138.33.

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.