CIBC Asset Management Inc Acquires Shares of 1,880 Matson, Inc. (NYSE:MATX)

CIBC Asset Management Inc acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,880 shares of the shipping company's stock, valued at approximately $253,000.

Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock valued at $40,927,000 after purchasing an additional 26,366 shares in the last quarter. Intech Investment Management LLC increased its stake in Matson by 43.5% during the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock valued at $2,051,000 after purchasing an additional 4,361 shares in the last quarter. Quest Partners LLC increased its stake in Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company's stock valued at $1,476,000 after purchasing an additional 6,080 shares in the last quarter. Summit Global Investments increased its stake in Matson by 78.0% during the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company's stock valued at $1,487,000 after purchasing an additional 4,567 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Matson by 7.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company's stock valued at $1,437,000 after purchasing an additional 703 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Matson Stock Performance

Shares of NYSE:MATX traded up $3.28 during midday trading on Friday, reaching $144.07. The company had a trading volume of 291,115 shares, compared to its average volume of 283,690. The company's 50 day moving average price is $139.74 and its 200 day moving average price is $141.20. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.78 billion, a P/E ratio of 11.99 and a beta of 1.05. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12.

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Matson (NYSE:MATX - Get Free Report) last issued its quarterly 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. The company had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. As a group, sell-side analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 6th. Matson's dividend payout ratio (DPR) is currently 9.69%.

Wall Street Analyst Weigh In

MATX has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research note on Wednesday. Wolfe Research lowered shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Finally, Stephens upped their target price on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday.

Matson Profile

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.