Silvercrest Asset Management Group LLC Takes Position in Matson, Inc. (NYSE:MATX)

Silvercrest Asset Management Group LLC bought a new stake in Matson, Inc. (NYSE:MATX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 149,837 shares of the shipping company's stock, valued at approximately $20,204,000. Silvercrest Asset Management Group LLC owned 0.45% of Matson at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Johnson Investment Counsel Inc. lifted its position in Matson by 4.5% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock valued at $238,000 after purchasing an additional 76 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Matson by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock valued at $2,244,000 after buying an additional 80 shares during the period. Covestor Ltd lifted its holdings in shares of Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after buying an additional 82 shares during the period. Inspire Investing LLC boosted 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 buying an additional 85 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after acquiring an additional 86 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MATX. Stephens decreased their price target on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stifel Nicolaus dropped their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group upped their price objective on shares of Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $138.33.

Insider Buying and Selling

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of Matson 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 sale, the senior vice president now owns 8,425 shares of the company's stock, valued at $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 is available through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total transaction of $200,923.00. Following the completion of the sale, the senior vice president now owns 14,712 shares of the company's stock, valued at $1,738,811.28. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,682 shares of company stock worth $1,550,551 in the last 90 days. Insiders own 2.05% of the company's stock.

Matson Price Performance

Shares of MATX stock traded down $1.00 during trading hours on Thursday, hitting $110.09. 75,133 shares of the company's stock were exchanged, compared to its average volume of 339,906. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The firm has a market cap of $3.59 billion, a P/E ratio of 9.16 and a beta of 1.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $112.24 and a two-hundred day moving average of $133.06.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). The company had revenue of $782.00 million during the quarter, compared to analysts' expectations of $818.07 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson's revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 EPS. Sell-side analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. 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 1.24%. Matson's dividend payout ratio is currently 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.