International Assets Investment Management LLC raised its stake in Matson, Inc. (NYSE:MATX - Free Report) by 10,860.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,880 shares of the shipping company's stock after buying an additional 32,580 shares during the quarter. International Assets Investment Management LLC owned 0.09% of Matson worth $3,604,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in MATX. O Shaughnessy Asset Management LLC boosted its holdings in shares of Matson by 105.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company's stock worth $3,316,000 after buying an additional 19,149 shares during the period. Dark Forest Capital Management LP boosted its holdings in Matson by 317.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company's stock valued at $2,197,000 after purchasing an additional 18,830 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Matson by 25.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company's stock valued at $5,381,000 after purchasing an additional 12,285 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Matson by 178.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company's stock valued at $826,000 after purchasing an additional 5,973 shares during the period. Finally, Invesco Ltd. boosted its holdings in Matson by 12.6% in the 3rd quarter. Invesco Ltd. now owns 285,314 shares of the shipping company's stock valued at $25,313,000 after purchasing an additional 31,833 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on MATX shares. Stifel Nicolaus increased their price target on shares of Matson from $108.00 to $109.00 and gave the company a "hold" rating in a report on Wednesday, February 21st. StockNews.com upgraded shares of Matson from a "hold" rating to a "buy" rating in a research report on Wednesday, April 10th.
Check Out Our Latest Stock Report on MATX
Insider Activity at Matson
In related news, SVP Christopher A. Scott sold 1,171 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares in the company, valued at $1,397,261.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.32% of the company's stock.
Matson Price Performance
Shares of NYSE MATX traded down $1.37 during trading on Thursday, reaching $104.60. The company had a trading volume of 248,385 shares, compared to its average volume of 267,558. Matson, Inc. has a 52 week low of $61.51 and a 52 week high of $122.99. The stock has a market cap of $3.61 billion, a PE ratio of 12.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07. The business's 50 day moving average price is $111.10 and its 200-day moving average price is $104.49.
Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.03. The business had revenue of $788.90 million during the quarter, compared to the consensus estimate of $733.60 million. Matson had a net margin of 9.60% and a return on equity of 12.71%. Matson's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. Analysts expect that Matson, Inc. will post 8.2 earnings per share for the current year.
Matson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Wednesday, February 7th. Matson's dividend payout ratio is currently 15.27%.
About Matson
(
Free Report)
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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