Envestnet Asset Management Inc. Purchases 6,159 Shares of Matson, Inc. (NYSE:MATX)

Envestnet Asset Management Inc. lifted its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,749 shares of the shipping company's stock after buying an additional 6,159 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Matson worth $11,967,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MATX. JPMorgan Chase & Co. boosted its position in Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock worth $40,927,000 after acquiring an additional 26,366 shares during the last quarter. Boston Partners boosted its holdings in Matson by 5.0% during the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company's stock worth $24,707,000 after purchasing an additional 8,704 shares during the last quarter. Raymond James Financial Inc. bought a new position in Matson in the fourth quarter valued at $4,328,000. Bryce Point Capital LLC acquired a new stake in Matson in the 4th quarter valued at $544,000. Finally, One Wealth Advisors LLC bought a new stake in Matson during the 4th quarter worth about $258,000. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Performance

MATX stock traded up $5.83 during trading hours on Wednesday, reaching $102.10. The stock had a trading volume of 160,611 shares, compared to its average volume of 361,197. The stock has a 50-day simple moving average of $125.14 and a 200 day simple moving average of $137.17. Matson, Inc. has a fifty-two week low of $92.89 and a fifty-two week high of $169.12. The stock has a market capitalization of $3.35 billion, a PE ratio of 8.49 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. Analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.33%. Matson's payout ratio is 9.69%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction 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 owns 25,192 shares of the company's stock, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by corporate insiders.

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.