Millennium Management LLC Has $12.93 Million Stock Position in Matson, Inc. (NYSE:MATX)

Millennium Management LLC grew its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 126.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,851 shares of the shipping company's stock after buying an additional 53,452 shares during the quarter. Millennium Management LLC owned approximately 0.29% of Matson worth $12,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Johnson Investment Counsel Inc. increased its stake in shares of Matson by 4.5% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock valued at $238,000 after buying an additional 76 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock worth $2,244,000 after purchasing an additional 80 shares during the period. Covestor Ltd increased its position 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. Inspire Investing LLC increased its position in Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock worth $401,000 after purchasing an additional 85 shares during the period. Finally, Bessemer Group Inc. increased its position 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. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MATX has been the subject of a number of research reports. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Jefferies Financial Group lifted their price objective on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. 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. Finally, 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. Three 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $138.33.

Insider Buying and Selling at Matson

In other Matson news, SVP Leonard P. Isotoff sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total value of $55,735.00. Following the sale, the senior vice president now owns 5,644 shares in the company, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Laura L. Rascon sold 1,700 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 in the company, valued at $1,738,811.28. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,182 shares of company stock worth $1,606,286. Corporate insiders own 2.05% of the company's stock.

Matson Trading Up 1.3%

MATX traded up $1.50 during midday trading on Thursday, reaching $112.39. 109,653 shares of the company were exchanged, compared to its average volume of 429,099. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The stock has a market capitalization of $3.67 billion, a P/E ratio of 9.35 and a beta of 1.30. The stock's 50-day simple moving average is $110.41 and its 200 day simple moving average is $131.30.

Matson (NYSE:MATX - Get Free Report) last released 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 firm earned $1.04 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's payout ratio is 8.96%.

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.