Assetmark Inc. increased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,164 shares of the shipping company's stock after buying an additional 2,296 shares during the quarter. Assetmark Inc. owned about 0.15% of Matson worth $6,764,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc acquired a new position in Matson during the 4th quarter worth approximately $40,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson in the third quarter worth approximately $50,000. U S Global Investors Inc. bought a new position in shares of Matson in the fourth quarter valued at approximately $111,000. Smartleaf Asset Management LLC lifted its holdings in shares of Matson by 339.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company's stock valued at $122,000 after purchasing an additional 696 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Matson by 31.4% in the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company's stock valued at $143,000 after purchasing an additional 253 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Matson
In other news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction dated 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. The trade was a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on MATX shares. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. Stifel Nicolaus raised their target price on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Finally, Stephens raised their target price on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th.
Check Out Our Latest Analysis on MATX
Matson Stock Performance
Shares of Matson stock traded down $0.22 during trading hours on Friday, reaching $133.02. The company had a trading volume of 383,471 shares, compared to its average volume of 293,043. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The business has a fifty day simple moving average of $139.50 and a 200 day simple moving average of $141.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.37 billion, a PE ratio of 11.07 and a beta of 1.05.
Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.60. The company had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. On average, analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.
Matson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, February 6th. Matson's dividend payout ratio is 9.69%.
About Matson
(
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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