Assetmark Inc. Buys 5,536 Shares of Matson, Inc. (NYSE:MATX)

Assetmark Inc. increased its position in Matson, Inc. (NYSE:MATX - Free Report) by 13.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,868 shares of the shipping company's stock after purchasing an additional 5,536 shares during the period. Assetmark Inc. owned 0.14% of Matson worth $6,827,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MATX. BNP Paribas Financial Markets boosted its position in shares of Matson by 35.8% during the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company's stock worth $2,172,000 after buying an additional 5,095 shares during the period. PAX Financial Group LLC bought a new stake in shares of Matson in the 1st quarter valued at about $605,000. Caxton Associates LP raised its stake in Matson by 283.4% during the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company's stock worth $925,000 after buying an additional 6,085 shares during the period. Artemis Investment Management LLP raised its stake in shares of Matson by 31.5% in the second quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company's stock worth $9,832,000 after purchasing an additional 17,992 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in Matson by 3,509.3% during the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company's stock valued at $21,233,000 after purchasing an additional 183,676 shares during the period. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

MATX has been the topic of several analyst reports. Stephens lifted their price objective on Matson from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th.

Matson Trading Down 1.5 %

MATX stock traded down $2.53 during trading on Tuesday, reaching $163.89. 195,349 shares of the stock were exchanged, compared to its average volume of 275,513. Matson, Inc. has a 1 year low of $90.60 and a 1 year high of $168.18. The business has a 50 day moving average price of $138.91 and a 200-day moving average price of $129.87. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 13.83 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million during the quarter, compared to analysts' expectations of $965.73 million. During the same quarter in the previous year, the business posted $3.40 earnings per share. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. On average, research analysts predict that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.83%. Matson's dividend payout ratio is presently 11.31%.

Insider Buying and Selling at Matson

In other news, CEO Matthew J. Cox sold 7,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares of the company's stock, valued at approximately $29,546,006.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Peter T. Heilmann sold 5,404 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the transaction, the executive vice president now directly owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the sale, the chief executive officer now owns 215,397 shares in the company, valued at approximately $29,546,006.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,864 shares of company stock valued at $3,716,059. 2.32% of the stock is currently owned by corporate insiders.

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.