Matson, Inc. (NYSE:MATX) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC raised its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 43.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,382 shares of the shipping company's stock after buying an additional 4,361 shares during the quarter. Intech Investment Management LLC's holdings in Matson were worth $2,051,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company's stock worth $447,810,000 after purchasing an additional 215,452 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Matson by 4.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 27,594 shares of the shipping company's stock valued at $3,098,000 after acquiring an additional 1,066 shares during the period. BOKF NA grew its position in shares of Matson by 88.2% during the first quarter. BOKF NA now owns 3,446 shares of the shipping company's stock worth $384,000 after acquiring an additional 1,615 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Matson by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company's stock worth $3,058,000 after acquiring an additional 1,214 shares during the period. Finally, Caxton Associates LP lifted its position in Matson by 283.4% in the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company's stock valued at $925,000 after purchasing an additional 6,085 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, CEO Matthew J. Cox sold 7,500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now owns 215,397 shares in the company, valued at $29,546,006.49. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason Lee Taylor sold 1,000 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company's stock, valued at approximately $1,274,776.16. This trade represents a 9.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,645 shares of company stock valued at $3,677,960 over the last three months. Insiders own 2.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MATX shares. Wolfe Research lowered shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered Matson from a "strong-buy" rating to a "buy" rating in a report on Friday, September 6th.

Matson Price Performance

MATX traded up $1.39 during trading on Monday, reaching $155.34. The stock had a trading volume of 138,146 shares, compared to its average volume of 273,408. Matson, Inc. has a 1-year low of $93.75 and a 1-year high of $169.12. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 12.81 and a beta of 1.06. The stock has a 50 day moving average of $144.02 and a two-hundred day moving average of $132.91. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, beating analysts' consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same period in the prior year, the company earned $3.40 EPS. Matson's revenue was up 16.3% on a year-over-year basis. As a group, equities analysts anticipate that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. Matson's dividend payout ratio (DPR) is presently 11.31%.

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.