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

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Johnson Investment Counsel Inc. raised its position in shares of 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 buying an additional 76 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Matson by 0.5% during the fourth 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 last quarter. Covestor Ltd raised its position in shares of Matson by 16.3% during the fourth 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 last quarter. Inspire Investing LLC raised its position in shares of Matson by 2.9% during the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock valued at $401,000 after buying an additional 85 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Transactions at Matson

In other news, SVP Laura L. Rascon sold 1,700 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total value of $200,923.00. Following the transaction, the senior vice president now directly owns 14,712 shares in the company, valued at approximately $1,738,811.28. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the company'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. This trade represents a 19.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,682 shares of company stock worth $1,550,551. Insiders own 2.05% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target 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. Stephens reduced their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus reduced 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, StockNews.com cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Matson currently has an average rating of "Hold" and an average target price of $138.33.

Matson Trading Down 2.2%

MATX stock traded down $2.63 during mid-day trading on Tuesday, reaching $115.58. 335,516 shares of the stock traded hands, compared to its average volume of 340,245. 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, Inc. has a one year low of $91.75 and a one year high of $169.12. The stock has a market capitalization of $3.77 billion, a PE ratio of 9.62 and a beta of 1.30. The business has a 50-day moving average price of $112.90 and a two-hundred day moving average price of $133.34.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. Equities research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

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

Matson 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.