Cibc World Markets Corp Takes Position in Matson, Inc. (NYSE:MATX)

Cibc World Markets Corp bought a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,064 shares of the shipping company's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Natixis Advisors LLC grew its position in Matson by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 16,434 shares of the shipping company's stock worth $2,216,000 after acquiring an additional 217 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Matson by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 25,572 shares of the shipping company's stock valued at $3,448,000 after buying an additional 343 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Matson during the 4th quarter valued at about $2,603,000. Johnson Investment Counsel Inc. lifted its position in Matson by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock worth $238,000 after buying an additional 76 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Matson by 27.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,300 shares of the shipping company's stock worth $310,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MATX shares. Stifel Nicolaus upped their price objective on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. Stephens upped their price target on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th.

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Matson Trading Down 1.6 %

MATX stock traded down $2.17 during midday trading on Thursday, hitting $130.73. The company had a trading volume of 252,878 shares, compared to its average volume of 265,365. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 10.88 and a beta of 1.05. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. 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's 50 day moving average price is $137.38 and its 200 day moving average price is $141.03.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. As a group, equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 6th. Matson's payout ratio is 9.69%.

Insider Activity

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the sale, 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 filing with the SEC, which is available at this link. Also, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Company 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.