Wellington Management Group LLP Invests $2.71 Million in Matson, Inc. (NYSE:MATX)

Wellington Management Group LLP purchased a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,059 shares of the shipping company's stock, valued at approximately $2,705,000. Wellington Management Group LLP owned 0.06% of Matson as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MATX. Norges Bank bought a new position in shares of Matson in the fourth quarter valued at about $35,016,000. Leigh Baldwin & CO. LLC acquired a new position in Matson in the 4th quarter valued at about $34,897,000. Ameriprise Financial Inc. grew its stake in Matson by 73.9% in the 4th quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after buying an additional 177,000 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in Matson in the 4th quarter valued at about $20,204,000. Finally, First Trust Advisors LP lifted its position in Matson by 21.5% during the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock worth $89,432,000 after acquiring an additional 117,545 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Price Performance

Shares of NYSE MATX traded up $1.40 during midday trading on Monday, reaching $114.48. The company's stock had a trading volume of 332,187 shares, compared to its average volume of 343,526. 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 has a market cap of $3.74 billion, a P/E ratio of 9.52 and a beta of 1.31. The business's 50 day moving average price is $107.52 and its two-hundred day moving average price is $128.33. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 16.89% and a net margin of 12.37%. Matson's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. On average, analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 1.19%. Matson's payout ratio is 8.96%.

Insider Buying and Selling at Matson

In related news, 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 transaction of $200,923.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Leonard P. Isotoff sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the transaction, the senior vice president now owns 5,644 shares of the company's stock, valued at approximately $629,136.68. This represents a 8.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Analysts Set New Price Targets

MATX has been the topic of several research reports. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens decreased their price objective on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, 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 report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Matson presently 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.