Nuveen Asset Management LLC Purchases 107,425 Shares of Matson, Inc. (NYSE:MATX)

Nuveen Asset Management LLC lifted its position in Matson, Inc. (NYSE:MATX - Free Report) by 109.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,782 shares of the shipping company's stock after purchasing an additional 107,425 shares during the quarter. Nuveen Asset Management LLC owned 0.62% of Matson worth $27,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Matson by 0.5% during 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. Paradiem LLC raised its holdings in shares of Matson by 2.2% in the 4th quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock worth $12,140,000 after buying an additional 1,909 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Matson by 2.9% during the 4th quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock worth $401,000 after buying an additional 85 shares during the period. Linden Thomas Advisory Services LLC lifted its position in shares of Matson by 4.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,824 shares of the shipping company's stock worth $3,617,000 after buying an additional 1,136 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Matson by 14.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,651 shares of the shipping company's stock worth $492,000 after buying an additional 474 shares during the period. 84.76% of the stock is owned by institutional investors.

Matson Price Performance

Shares of NYSE:MATX traded down $1.61 on Friday, hitting $109.18. The stock had a trading volume of 241,182 shares, compared to its average volume of 341,191. Matson, Inc. has a twelve month low of $91.75 and a twelve month 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 firm's 50 day moving average price is $111.52 and its 200-day moving average price is $131.97. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 9.08 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) 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 analyst estimates of $818.07 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.04 EPS. On average, equities research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.25%. Matson's dividend payout ratio (DPR) is 8.96%.

Analyst Ratings Changes

MATX has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Jefferies Financial Group boosted their target price on shares of Matson from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Stephens reduced their target price on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock 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 stock. According to data from MarketBeat.com, Matson has a consensus rating of "Hold" and an average price target of $138.33.

Insider Buying and Selling

In related news, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were 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 represents a 19.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. This trade represents a 24.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,682 shares of company stock worth $1,550,551 in the last 90 days. Corporate insiders own 2.05% of the company's stock.

Matson 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.