LSV Asset Management grew its stake in Matson, Inc. (NYSE:MATX - Free Report) by 450.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,439 shares of the shipping company's stock after purchasing an additional 195,939 shares during the quarter. LSV Asset Management owned approximately 0.68% of Matson worth $26,243,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of MATX. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Matson in the fourth quarter valued at about $26,000. Blue Trust Inc. boosted its stake in shares of Matson by 109.6% in the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company's stock valued at $45,000 after buying an additional 217 shares during the period. GAMMA Investing LLC acquired a new stake in Matson during the fourth quarter worth approximately $89,000. U S Global Investors Inc. increased its stake in Matson by 13.4% during the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company's stock worth $109,000 after acquiring an additional 118 shares during the period. Finally, Planned Solutions Inc. acquired a new position in Matson in the 4th quarter valued at $112,000. Institutional investors and hedge funds own 84.76% of the company's stock.
Matson Price Performance
Shares of Matson stock traded down $1.55 during trading on Monday, reaching $111.81. 246,507 shares of the company's stock were exchanged, compared to its average volume of 265,346. The firm's 50-day moving average price is $108.69 and its 200 day moving average price is $106.38. The company has a market cap of $3.82 billion, a P/E ratio of 13.19 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson, Inc. has a 1-year low of $64.21 and a 1-year high of $122.99.
Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The firm had revenue of $722.10 million during the quarter, compared to the consensus estimate of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, research analysts anticipate that Matson, Inc. will post 8.51 earnings per share for the current year.
Matson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.14%. Matson's dividend payout ratio (DPR) is presently 15.09%.
Insider Activity at Matson
In other news, SVP Christopher A. Scott sold 1,171 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total transaction of $126,268.93. Following the sale, the senior vice president now directly owns 12,958 shares in the company, valued at $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.32% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
MATX has been the subject of a number of analyst reports. StockNews.com raised Matson from a "hold" rating to a "buy" rating in a research note on Wednesday, May 1st. Stifel Nicolaus boosted their target price on shares of Matson from $109.00 to $111.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st.
Check Out Our Latest Stock Report on MATX
Matson Company Profile
(
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.
Further Reading
Before you consider Matson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Matson wasn't on the list.
While Matson currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
