Magnetar Financial LLC Buys New Shares in Matson, Inc. (NYSE:MATX)

Magnetar Financial LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,347 shares of the shipping company's stock, valued at approximately $451,000.

Several other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted 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 buying an additional 26,366 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Matson by 43.5% in the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock valued at $2,051,000 after purchasing an additional 4,361 shares in the last quarter. Boston Partners raised its position in Matson by 5.0% in the 4th 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. BNP Paribas Financial Markets boosted its position in Matson by 7.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company's stock valued at $1,437,000 after buying an additional 703 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Matson during the third quarter valued at $512,000. Institutional investors own 84.76% of the company's stock.

Matson Trading Down 1.6 %

NYSE MATX traded down $2.17 during trading on Thursday, reaching $130.73. 252,878 shares of the stock traded hands, compared to its average volume of 265,365. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 10.88 and a beta of 1.05. The stock's 50-day moving average price is $137.38 and its 200 day moving average price is $141.03.

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

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.04%. Matson's payout ratio is 9.69%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction dated Thursday, March 6th. The stock was 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 directly owns 8,425 shares in the company, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the sale, 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. Corporate insiders own 2.05% of the company's stock.

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.