Russell Investments Group Ltd. Acquires 8,734 Shares of Matson, Inc. (NYSE:MATX)

Russell Investments Group Ltd. boosted its stake in Matson, Inc. (NYSE:MATX - Free Report) by 18.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,183 shares of the shipping company's stock after buying an additional 8,734 shares during the period. Russell Investments Group Ltd. owned 0.17% of Matson worth $7,576,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in shares of Matson by 16.5% in the 3rd quarter. Quantinno Capital Management LP now owns 4,509 shares of the shipping company's stock worth $643,000 after purchasing an additional 639 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Matson during the 3rd quarter worth $249,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Matson by 205.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 5,355 shares of the shipping company's stock worth $764,000 after acquiring an additional 3,600 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Matson by 41.0% during the third quarter. Sanctuary Advisors LLC now owns 8,173 shares of the shipping company's stock worth $1,258,000 after purchasing an additional 2,378 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of Matson during the third quarter valued at $3,641,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling

In other Matson news, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value 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 $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by insiders.

Matson Stock Up 0.4 %

Shares of MATX stock traded up $0.37 on Friday, hitting $98.29. The company's stock had a trading volume of 394,854 shares, compared to its average volume of 299,690. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.18 and a beta of 1.12. Matson, Inc. has a fifty-two week low of $96.72 and a fifty-two week high of $169.12. The firm's fifty day moving average price is $127.87 and its 200-day moving average price is $138.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $0.60. The company had revenue of $890.30 million during the quarter, compared to analysts' expectations of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 6th. Matson's dividend payout ratio is 9.69%.

Analyst Ratings Changes

MATX has been the subject of a number of analyst reports. Stephens upped their price objective on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th.

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.