Tidal Investments LLC Has $3.04 Million Stock Position in Matson, Inc. (NYSE:MATX)

Tidal Investments LLC decreased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,536 shares of the shipping company's stock after selling 5,692 shares during the quarter. Tidal Investments LLC owned about 0.07% of Matson worth $3,039,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Matson in the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Matson in the fourth quarter worth about $40,000. Covestor Ltd lifted its holdings in Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after purchasing an additional 82 shares during the period. Finally, U S Global Investors Inc. acquired a new stake in Matson in the fourth quarter worth about $111,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MATX shares. Stifel Nicolaus reduced their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens reduced their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group raised their price objective on shares of Matson from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $138.33.

Matson Price Performance

Shares of NYSE:MATX traded up $2.55 during trading hours on Tuesday, hitting $111.74. 59,445 shares of the company's stock traded hands, compared to its average volume of 430,444. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. 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 fifty day simple moving average is $111.14 and its two-hundred day simple moving average is $131.58. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 9.30 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $818.07 million. During the same quarter last year, the business posted $1.04 EPS. The business's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, May 8th. Matson's dividend payout ratio (DPR) is 8.96%.

Insider Transactions at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction that occurred 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 owns 14,712 shares in the company, valued at approximately $1,738,811.28. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,682 shares of company stock valued at $1,550,551 over the last three months. 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.