Matson, Inc. (NYSE:MATX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 37.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,804 shares of the shipping company's stock after buying an additional 6,249 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Matson worth $3,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MATX. Xponance Inc. lifted its position in shares of Matson by 7.4% during the fourth quarter. Xponance Inc. now owns 2,654 shares of the shipping company's stock valued at $358,000 after buying an additional 184 shares during the last quarter. Boston Partners lifted its position in Matson by 5.0% during the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company's stock valued at $24,707,000 after acquiring an additional 8,704 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Matson in the fourth quarter valued at approximately $413,000. Natixis Advisors LLC grew its holdings in Matson by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 16,434 shares of the shipping company's stock worth $2,216,000 after purchasing an additional 217 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Matson by 1.4% during the fourth quarter. HighTower Advisors LLC now owns 25,572 shares of the shipping company's stock worth $3,448,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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Matson Stock Performance

Shares of NYSE:MATX traded down $3.59 on Friday, hitting $127.04. 215,935 shares of the company were exchanged, compared to its average volume of 282,713. The firm has a market capitalization of $4.17 billion, a P/E ratio of 10.57 and a beta of 1.05. 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, Inc. has a 1-year low of $100.50 and a 1-year high of $169.12. The stock's 50 day moving average price is $136.97 and its 200 day moving average price is $141.08.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $851.78 million. Sell-side analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 6th. Matson's payout ratio is currently 9.69%.

Insider Activity

In related news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the company'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 transaction, the executive vice president now owns 25,192 shares of the company's stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of 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 stock a "hold" rating in a research report on Wednesday, February 26th. Stephens raised their price target on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th.

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.