Matson, Inc. (NYSE:MATX) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its position in Matson, Inc. (NYSE:MATX - Free Report) by 298.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,771 shares of the shipping company's stock after purchasing an additional 11,068 shares during the quarter. Gotham Asset Management LLC's holdings in Matson were worth $1,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. raised its position 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings in Matson by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock valued at $2,244,000 after acquiring an additional 80 shares during the last quarter. Covestor Ltd lifted its stake in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after purchasing an additional 82 shares in the last quarter. Inspire Investing LLC boosted its holdings 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 purchasing an additional 85 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Trading Down 1.4%

NYSE:MATX traded down $1.58 on Wednesday, reaching $114.08. 41,900 shares of the company's stock were exchanged, compared to its average volume of 339,079. The business has a fifty day moving average of $112.90 and a 200-day moving average of $133.34. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.49 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results 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 return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $782.00 million for the quarter, compared to analysts' expectations of $818.07 million. During the same period in the previous year, the company earned $1.04 earnings per share. Matson's quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be paid 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 1.19%. Matson's payout ratio is 8.96%.

Insiders Place Their Bets

In other Matson 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 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 represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the sale, the executive vice president now owns 25,192 shares in the company, valued at $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 quarter. 2.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MATX shares. StockNews.com cut shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Jefferies Financial Group lifted their target price on Matson from $125.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Stifel Nicolaus cut their price objective on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Stephens decreased their target price on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Matson has an average rating of "Hold" and an average price target of $138.33.

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.