Aviva PLC purchased a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,012 shares of the shipping company's stock, valued at approximately $541,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. IFP Advisors Inc purchased a new position in shares of Matson during the fourth quarter worth about $40,000. U S Global Investors Inc. acquired a new stake in shares of Matson in the 4th quarter valued at about $111,000. Smartleaf Asset Management LLC increased its position in Matson by 339.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company's stock worth $122,000 after buying an additional 696 shares during the period. Rothschild Investment LLC lifted its stake in 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 buying an additional 253 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Matson by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock valued at $166,000 after acquiring an additional 133 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Stephens lifted their price objective on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.
Get Our Latest Stock Report on MATX
Matson Stock Performance
Shares of NYSE:MATX traded down $2.18 during trading on Tuesday, reaching $100.36. The company had a trading volume of 509,453 shares, compared to its average volume of 297,174. Matson, Inc. has a fifty-two week low of $98.84 and a fifty-two week high of $169.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The stock's fifty day moving average price is $130.16 and its 200 day moving average price is $138.92. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 8.35 and a beta of 1.12.
Matson (NYSE:MATX - Get Free Report) last announced 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. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. As a group, equities research analysts predict that Matson, Inc. will post 13.27 EPS for the current year.
Matson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were given a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.36%. Matson's payout ratio is currently 9.69%.
Insider Buying and Selling at Matson
In related news, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the senior vice president now owns 8,425 shares in the company, valued at $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.
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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