New Age Alpha Advisors LLC bought a new position in Matson, Inc. (NYSE:MATX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,939 shares of the shipping company's stock, valued at approximately $261,000.
A number of other institutional investors have also recently made changes to their positions in MATX. Norges Bank bought a new position in Matson in the 4th quarter valued at approximately $35,016,000. JPMorgan Chase & Co. lifted its holdings in shares of Matson by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company's stock valued at $43,570,000 after purchasing an additional 36,156 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Matson by 12.9% during the fourth quarter. Prudential Financial Inc. now owns 113,244 shares of the shipping company's stock valued at $15,270,000 after buying an additional 12,915 shares during the last quarter. Vanguard Group Inc. increased its holdings in Matson by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock worth $542,759,000 after buying an additional 11,357 shares in the last quarter. Finally, LPL Financial LLC raised its position in Matson by 6.8% in the 4th quarter. LPL Financial LLC now owns 17,133 shares of the shipping company's stock worth $2,310,000 after buying an additional 1,084 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on MATX shares. Stephens lifted their price target on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their target price on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th.
View Our Latest Analysis on MATX
Matson Stock Performance
Shares of Matson stock traded down $2.94 during trading hours on Friday, reaching $112.26. 433,110 shares of the stock traded hands, compared to its average volume of 285,191. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.34 and a beta of 1.12. 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 company has a 50 day moving average price of $135.57 and a 200 day moving average price of $140.91.
Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. The business had revenue of $890.30 million during the quarter, compared to analysts' expectations of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. On average, equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.
Matson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.36 annualized dividend and a yield of 1.21%. Matson's dividend payout ratio (DPR) is presently 9.69%.
Insider Buying and Selling at Matson
In other news, SVP Richard S. Kinney sold 1,997 shares of the 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 completion of the sale, the senior vice president now directly owns 8,425 shares of the company's stock, valued at $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following 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 ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by corporate insiders.
About Matson
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Free Report)
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.
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