International Assets Investment Management LLC Acquires 42,486 Shares of Matson, Inc. (NYSE:MATX)

International Assets Investment Management LLC increased its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 14,162.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,786 shares of the shipping company's stock after purchasing an additional 42,486 shares during the quarter. International Assets Investment Management LLC owned 0.12% of Matson worth $6,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MATX. BNP Paribas Financial Markets raised its stake in Matson by 35.8% during the 1st quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company's stock valued at $2,172,000 after buying an additional 5,095 shares during the last quarter. Choreo LLC purchased a new position in Matson in the first quarter worth about $202,000. Texas Permanent School Fund Corp grew its stake in shares of Matson by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,575 shares of the shipping company's stock valued at $3,437,000 after purchasing an additional 410 shares during the period. LSV Asset Management increased its position in shares of Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company's stock valued at $31,783,000 after purchasing an additional 43,324 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Matson in the 1st quarter worth approximately $182,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at Matson

In other Matson news, EVP Peter T. Heilmann sold 10,000 shares of Matson stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $129.37, for a total transaction of $1,293,700.00. Following the completion of the transaction, the executive vice president now directly owns 38,356 shares of the company's stock, valued at $4,962,115.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Peter T. Heilmann sold 10,000 shares of Matson stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $129.37, for a total transaction of $1,293,700.00. Following the completion of the sale, the executive vice president now owns 38,356 shares in the company, valued at $4,962,115.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Cox sold 6,499 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares in the company, valued at $30,043,710.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,712 shares of company stock valued at $4,149,098. Insiders own 2.32% of the company's stock.

Matson Price Performance

NYSE MATX traded down $1.38 on Friday, reaching $153.51. The company had a trading volume of 467,486 shares, compared to its average volume of 274,491. The firm's 50 day moving average price is $135.51 and its 200 day moving average price is $126.95. Matson, Inc. has a 12 month low of $88.03 and a 12 month high of $155.96. The stock has a market capitalization of $5.15 billion, a PE ratio of 12.76 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts' consensus estimates of $4.98 by $0.91. Matson had a return on equity of 17.18% and a net margin of 12.37%. The company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same period in the prior year, the company earned $3.40 earnings per share. The firm's revenue was up 16.3% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 11.45 earnings per share for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, November 7th. Matson's payout ratio is 11.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MATX shares. StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th. Stephens lifted their target price on Matson from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 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.