Brandywine Global Investment Management LLC acquired a new position in Matson, Inc. (NYSE:MATX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 101,631 shares of the shipping company's stock, valued at approximately $13,704,000. Brandywine Global Investment Management LLC owned 0.31% of Matson at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MATX. IFP Advisors Inc purchased a new stake in shares of Matson during the fourth quarter valued at $40,000. U S Global Investors Inc. purchased a new stake in Matson in the 4th quarter valued at about $111,000. Smartleaf Asset Management LLC grew its stake in Matson by 339.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company's stock worth $122,000 after acquiring an additional 696 shares in the last quarter. Rothschild Investment LLC increased its position in shares of Matson by 31.4% during the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company's stock worth $143,000 after acquiring an additional 253 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Matson by 12.1% during 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 in the last quarter. Institutional investors own 84.76% of the company's stock.
Insider Buying and Selling at Matson
In other news, SVP Richard S. Kinney sold 1,997 shares of the firm's 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 completion of the transaction, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, 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. 2.05% of the stock is currently owned by company insiders.
Matson Stock Down 2.5 %
NYSE:MATX traded down $2.94 during trading hours on Friday, reaching $112.26. The company's stock had a trading volume of 433,110 shares, compared to its average volume of 285,049. The stock has a 50 day moving average price of $135.57 and a two-hundred day moving average price of $140.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $3.69 billion, a P/E ratio of 9.34 and a beta of 1.12. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12.
Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $851.78 million. Equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.
Matson Dividend Announcement
The business 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. This represents a $1.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, February 6th. Matson's payout ratio is currently 9.69%.
Wall Street Analyst Weigh In
MATX has been the topic of several research reports. Stephens raised their price objective on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Stifel Nicolaus raised 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 Analysis on Matson
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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