Matson, Inc. (NYSE:MATX) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 73.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 416,473 shares of the shipping company's stock after buying an additional 177,000 shares during the quarter. Ameriprise Financial Inc. owned 1.25% of Matson worth $56,157,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Algert Global LLC raised its holdings in shares of Matson by 54.4% during the fourth quarter. Algert Global LLC now owns 100,853 shares of the shipping company's stock valued at $13,599,000 after acquiring an additional 35,538 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Matson by 206.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 144,623 shares of the shipping company's stock worth $19,501,000 after purchasing an additional 97,400 shares in the last quarter. Comerica Bank raised its stake in Matson by 16.7% during the 4th quarter. Comerica Bank now owns 20,570 shares of the shipping company's stock valued at $2,774,000 after purchasing an additional 2,944 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Matson in the fourth quarter valued at $236,000. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Matson in the fourth quarter worth $441,000. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. StockNews.com lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday. Stephens dropped their price target 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. Finally, Jefferies Financial Group reissued a "buy" rating and set a $125.00 price objective on shares of Matson in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $135.00.

Insider Buying and Selling at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction 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. The trade was a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the sale, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Stock Performance

MATX opened at $96.19 on Friday. 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 $3.16 billion, a PE ratio of 8.00 and a beta of 1.30. The stock has a 50-day moving average of $114.90 and a 200-day moving average of $134.35. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $782.00 million during 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%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. As a group, equities research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm 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 is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.41%. Matson's payout ratio is 8.96%.

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.

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