Nuveen Asset Management LLC Increases Position in Matson, Inc. (NYSE:MATX)

Nuveen Asset Management LLC boosted its position in Matson, Inc. (NYSE:MATX - Free Report) by 109.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 205,782 shares of the shipping company's stock after purchasing an additional 107,425 shares during the period. Nuveen Asset Management LLC owned approximately 0.62% of Matson worth $27,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after buying an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Matson during the 4th quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Matson during the fourth quarter valued at approximately $40,000. Covestor Ltd boosted its holdings in Matson by 16.3% during the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after purchasing an additional 82 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of Matson in the 4th quarter worth approximately $111,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Trading Down 0.5%

Shares of Matson stock traded down $0.58 on Wednesday, hitting $111.14. The stock had a trading volume of 40,737 shares, compared to its average volume of 340,062. The firm has a market capitalization of $3.63 billion, a P/E ratio of 9.25 and a beta of 1.30. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The stock has a 50 day moving average of $110.77 and a 200 day moving average of $131.44. 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 (NYSE:MATX - Get Free Report) last issued 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). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. Matson's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. Sell-side analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm 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 dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's dividend payout ratio is 8.96%.

Analyst Ratings Changes

Several research firms have issued reports on MATX. Stifel Nicolaus reduced their price objective on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Jefferies Financial Group lifted their price objective on shares of Matson from $125.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Stephens decreased their price objective on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Three investment 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 a consensus rating of "Hold" and an average price target of $138.33.

Insider Buying and Selling

In other Matson news, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16. This represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of Matson stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total value of $200,923.00. Following the sale, the senior vice president now directly owns 14,712 shares of the company's stock, valued at approximately $1,738,811.28. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,682 shares of company stock worth $1,550,551 in the last three months. Insiders own 2.05% of the company's stock.

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.