Matson, Inc. (NYSE:MATX) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Matson, Inc. (NYSE:MATX - Free Report) by 17.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,189 shares of the shipping company's stock after acquiring an additional 2,448 shares during the period. Ritholtz Wealth Management's holdings in Matson were worth $2,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oliver Luxxe Assets LLC lifted its stake in shares of Matson by 4.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 13,546 shares of the shipping company's stock valued at $1,827,000 after purchasing an additional 635 shares during the period. GAMMA Investing LLC boosted its stake in shares of Matson by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock worth $166,000 after acquiring an additional 133 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 26,366 shares in the last quarter. World Investment Advisors LLC purchased a new position in Matson in the 3rd quarter valued at approximately $3,641,000. Finally, Sanctuary Advisors LLC increased its stake in Matson by 41.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,173 shares of the shipping company's stock valued at $1,258,000 after purchasing an additional 2,378 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Price Performance

Shares of MATX traded down $3.80 during trading hours on Friday, reaching $137.48. 266,512 shares of the company traded hands, compared to its average volume of 203,279. The stock has a fifty day simple moving average of $146.48 and a 200 day simple moving average of $138.81. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The stock has a market capitalization of $4.57 billion, a PE ratio of 11.44 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same period in the previous year, the firm posted $3.40 earnings per share. The company's quarterly revenue was up 16.3% compared to the same quarter last year. As a group, research analysts predict that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 7th. Matson's dividend payout ratio is currently 11.31%.

Insider Activity at Matson

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the sale, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the transaction, the senior vice president now owns 4,254 shares in the company, valued at $686,000.04. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,646 shares of company stock worth $1,578,768. 2.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MATX shares. 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 cut shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th.

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.