Matson, Inc. (NYSE:MATX) Shares Bought by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd raised its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 72.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,800 shares of the shipping company's stock after purchasing an additional 33,900 shares during the period. Matson accounts for about 4.0% of Quantedge Capital Pte Ltd's investment portfolio, making the stock its 3rd largest position. Quantedge Capital Pte Ltd owned approximately 0.24% of Matson worth $10,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management grew its holdings in Matson by 17.8% during the fourth quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company's stock valued at $2,183,000 after purchasing an additional 2,448 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Matson during the fourth quarter valued at approximately $9,788,000. Nisa Investment Advisors LLC grew its stake in shares of Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock worth $2,244,000 after acquiring an additional 80 shares during the last quarter. Paradiem LLC grew its stake in shares of Matson by 2.2% in the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock worth $12,140,000 after acquiring an additional 1,909 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock worth $401,000 after acquiring an additional 85 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday. Stephens lowered their price objective 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. Stifel Nicolaus decreased their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Finally, StockNews.com downgraded shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $138.33.

Insider Activity at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 of the company's stock, valued at approximately $1,155,151.75. The trade was a 19.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Laura L. Rascon sold 1,700 shares of the business's 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 $1,738,811.28. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,682 shares of company stock valued at $1,550,551 over the last ninety days. 2.05% of the stock is owned by insiders.

Matson Price Performance

Shares of NYSE MATX traded down $1.32 during midday trading on Friday, reaching $114.81. 364,198 shares of the company traded hands, compared to its average volume of 338,552. The firm has a market cap of $3.75 billion, a PE ratio of 9.55 and a beta of 1.30. The stock's 50-day simple moving average is $113.18 and its 200-day simple moving average is $133.73. Matson, Inc. has a 12 month low of $91.75 and a 12 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.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $818.07 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The business's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.18%. Matson's dividend payout ratio is 8.96%.

Matson Company 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.