Wells Fargo & Company MN increased its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,929 shares of the shipping company's stock after acquiring an additional 4,490 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of Matson worth $3,631,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Matson by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock worth $542,759,000 after acquiring an additional 11,357 shares in the last quarter. American Century Companies Inc. increased its position in shares of Matson by 10.9% during the fourth quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company's stock worth $146,562,000 after acquiring an additional 106,490 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Matson by 9.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock worth $141,551,000 after acquiring an additional 91,172 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Matson by 12.6% in the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company's stock valued at $43,570,000 after acquiring an additional 36,156 shares in the last quarter. Finally, Norges Bank acquired a new position in Matson during the 4th quarter valued at about $35,016,000. 84.76% of the stock is owned by institutional investors.
Matson Stock Performance
Shares of NYSE MATX traded up $4.27 during midday trading on Monday, reaching $106.65. The company's stock had a trading volume of 681,689 shares, compared to its average volume of 306,438. Matson, Inc. has a 12-month low of $92.90 and a 12-month high of $169.12. The firm has a 50 day moving average price of $121.70 and a 200-day moving average price of $136.30. The stock has a market capitalization of $3.50 billion, a P/E ratio of 8.87 and a beta of 1.12. 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 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. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. As a group, equities analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.
Matson Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be paid a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.28%. Matson's payout ratio is 9.69%.
Insider Activity at Matson
In related news, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on MATX. Stephens lifted their price target on 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 target on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th.
Check Out Our Latest Research Report on MATX
Matson Profile
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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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