Victory Capital Management Inc. Buys 5,389 Shares of Matson, Inc. (NYSE:MATX)

Victory Capital Management Inc. boosted its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,630 shares of the shipping company's stock after acquiring an additional 5,389 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of Matson worth $6,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings 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 buying an additional 26,366 shares during the period. Intech Investment Management LLC raised its holdings in Matson by 43.5% during the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock worth $2,051,000 after buying an additional 4,361 shares during the period. Quest Partners LLC raised its holdings in Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company's stock worth $1,476,000 after buying an additional 6,080 shares during the period. BNP Paribas Financial Markets raised its holdings in Matson by 7.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company's stock worth $1,437,000 after buying an additional 703 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Matson during the 3rd quarter worth about $512,000. 84.76% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several analysts have issued reports on MATX shares. Stifel Nicolaus boosted their price objective on Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Stephens boosted their price objective on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th.

Matson Stock Down 1.3 %

NYSE:MATX traded down $1.71 on Tuesday, hitting $127.20. 321,127 shares of the company's stock traded hands, compared to its average volume of 257,296. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 1 year low of $100.50 and a 1 year high of $169.12. The firm has a 50-day moving average price of $138.68 and a 200-day moving average price of $141.26. The company has a market cap of $4.18 billion, a PE ratio of 10.58 and a beta of 1.05.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. Equities analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.07%. Matson's payout ratio is 9.69%.

Insider Activity at Matson

In related news, EVP John P. Lauer sold 7,985 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the sale, the executive vice president now owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction that occurred 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 approximately $1,155,151.75. The trade was a 19.16 % decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is currently owned by company insiders.

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.