Cookson Peirce & Co. Inc. Buys 2,288 Shares of Matson, Inc. (NYSE:MATX)

Cookson Peirce & Co. Inc. raised its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,421 shares of the shipping company's stock after buying an additional 2,288 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Matson were worth $866,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MATX. IFP Advisors Inc bought a new position in shares of Matson during the fourth quarter valued at approximately $40,000. Harbor Capital Advisors Inc. bought a new position in Matson in the 3rd quarter worth $50,000. U S Global Investors Inc. purchased a new stake in shares of Matson in the 4th quarter worth about $111,000. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 696 shares during the period. Finally, 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 valued at $143,000 after buying an additional 253 shares during the period. Institutional investors own 84.76% of the company's stock.

Matson Stock Down 0.2 %

Shares of NYSE MATX traded down $0.22 on Friday, reaching $133.02. 383,471 shares of the company's stock traded hands, compared to its average volume of 293,043. The business's 50 day simple moving average is $139.50 and its two-hundred day simple moving average is $141.44. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 11.07 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

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Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. As a group, equities research analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal 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 dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, February 6th. Matson's dividend payout ratio (DPR) is 9.69%.

Insider Buying and Selling at Matson

In related news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were 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. This represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the completion of the sale, the executive vice president now directly owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MATX has been the subject of several research analyst reports. Wolfe Research lowered shares of Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. Stifel Nicolaus raised their target price on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. Finally, Stephens upped their price target on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th.

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.