Matson (NYSE:MATX) Trading 4.9% Higher - Here's Why

Matson, Inc. (NYSE:MATX - Get Free Report)'s stock price traded up 4.9% on Tuesday . The company traded as high as $146.87 and last traded at $145.98. 38,269 shares were traded during trading, a decline of 83% from the average session volume of 224,564 shares. The stock had previously closed at $139.17.

Analyst Ratings Changes

MATX has been the subject of a number of research analyst reports. Stephens reaffirmed an "overweight" rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th.

Matson Price Performance

The business has a 50 day moving average of $139.64 and a 200 day moving average of $140.14. The company has a market cap of $4.87 billion, a PE ratio of 12.19 and a beta of 1.05. 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 Announces Dividend

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

Hedge Funds Weigh In On Matson

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Matson in the fourth quarter worth $30,000. IFP Advisors Inc bought a new position in Matson in the fourth quarter worth $40,000. Harbor Capital Advisors Inc. bought a new position in Matson in the third quarter worth $50,000. Finally, Covestor Ltd raised its holdings in Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

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.