Kingsview Wealth Management LLC Makes New $2.37 Million Investment in Matson, Inc. (NYSE:MATX)

Kingsview Wealth Management LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,580 shares of the shipping company's stock, valued at approximately $2,370,000. Kingsview Wealth Management LLC owned 0.05% of Matson at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MATX. Pacer Advisors Inc. increased its stake in shares of Matson by 4,167,726.1% during the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company's stock valued at $136,716,000 after purchasing an additional 958,577 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Matson during the fourth quarter valued at approximately $9,788,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Matson during the third quarter valued at approximately $6,735,000. International Assets Investment Management LLC increased its stake in shares of Matson by 14,162.0% during the third quarter. International Assets Investment Management LLC now owns 42,786 shares of the shipping company's stock valued at $6,102,000 after purchasing an additional 42,486 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Matson during the third quarter valued at approximately $5,746,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Stock Up 3.3 %

Shares of NYSE:MATX traded up $4.74 during trading on Friday, reaching $146.58. 331,941 shares of the stock traded hands, compared to its average volume of 244,151. The stock has a 50-day moving average of $139.64 and a two-hundred day moving average of $140.14. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $4.87 billion, a P/E ratio of 12.19 and a beta of 1.05.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, February 6th. Matson's payout ratio is 11.31%.

Analyst Ratings Changes

A number of brokerages have weighed in on MATX. Wolfe Research downgraded shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Stephens reiterated an "overweight" rating and set a $165.00 price target on shares of Matson in a report on Thursday, January 2nd.

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.