EAM Global Investors LLC Invests $2.42 Million in Matson, Inc. (NYSE:MATX)

EAM Global Investors LLC purchased a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,976 shares of the shipping company's stock, valued at approximately $2,424,000. EAM Global Investors LLC owned about 0.05% of Matson as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Matson during the 4th quarter worth about $30,000. IFP Advisors Inc bought a new position in shares of Matson in the 4th quarter valued at about $40,000. Covestor Ltd increased its position in shares of Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after acquiring an additional 82 shares during the last quarter. Finally, U S Global Investors Inc. bought a new stake in Matson during the fourth quarter worth about $111,000. 84.76% of the stock is owned by institutional investors.

Insider Activity at Matson

In related news, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction on 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 sale, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. The trade was a 19.16 % decrease in their position. The transaction 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 stock in a transaction 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. The trade was a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MATX has been the topic of several recent analyst reports. Stephens boosted their price target on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus boosted their target price on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th.

Matson Stock Performance

NYSE:MATX traded up $0.37 on Friday, hitting $98.29. The company's stock had a trading volume of 394,854 shares, compared to its average volume of 299,895. Matson, Inc. has a one year low of $96.72 and a one year high of $169.12. The firm has a market capitalization of $3.23 billion, a P/E ratio of 8.18 and a beta of 1.12. The stock has a fifty day moving average of $126.99 and a two-hundred day moving average of $137.77. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. Research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 6th. Matson's payout ratio is 9.69%.

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.