RHS Financial LLC Acquires New Stake in Matson, Inc. (NYSE:MATX)

RHS Financial LLC bought a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,978 shares of the shipping company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MATX. Pacer Advisors Inc. increased its holdings in shares of Matson by 9.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock valued at $141,551,000 after acquiring an additional 91,172 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Matson by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company's stock valued at $56,437,000 after acquiring an additional 20,568 shares during the period. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 26,366 shares during the period. Artemis Investment Management LLP grew its position in Matson by 23.7% during the 3rd quarter. Artemis Investment Management LLP now owns 92,873 shares of the shipping company's stock worth $13,246,000 after purchasing an additional 17,803 shares during the last quarter. Finally, Paradiem LLC raised its holdings in shares of Matson by 2.2% in the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock valued at $12,140,000 after buying an additional 1,909 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Matson Price Performance

Matson stock traded up $0.73 during midday trading on Wednesday, reaching $136.08. 110,067 shares of the company were exchanged, compared to its average volume of 223,675. The firm's 50-day simple moving average is $141.64 and its 200-day simple moving average is $139.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 1 year low of $100.50 and a 1 year high of $169.12. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.32 and a beta of 1.05.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, February 6th. Matson's payout ratio is currently 11.31%.

Insider Buying and Selling at Matson

In related news, SVP John Warren Sullivan sold 750 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the sale, the senior vice president now directly owns 12,745 shares of the company's stock, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the sale, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is owned by insiders.

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.