Wealthfront Advisers LLC Invests $2.60 Million in Matson, Inc. (NYSE:MATX)

Wealthfront Advisers LLC bought a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,303 shares of the shipping company's stock, valued at approximately $2,603,000. Wealthfront Advisers LLC owned about 0.06% of Matson as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MATX. Johnson Investment Counsel Inc. lifted its position in shares of Matson by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock worth $238,000 after purchasing an additional 76 shares during the period. Natixis Advisors LLC lifted its position in shares of Matson by 0.5% in the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company's stock worth $2,313,000 after purchasing an additional 78 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Matson by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock worth $2,244,000 after purchasing an additional 80 shares during the period. Inspire Investing LLC lifted its position in Matson by 2.9% during the 4th quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock valued at $401,000 after acquiring an additional 85 shares during the period. Finally, Caprock Group LLC lifted its position in Matson by 4.2% during the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company's stock valued at $326,000 after acquiring an additional 91 shares during the period. Institutional investors own 84.76% of the company's stock.

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Matson Stock Up 0.9 %

NYSE:MATX traded up $1.14 on Wednesday, reaching $128.31. 338,408 shares of the stock traded hands, compared to its average volume of 257,430. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.67 and a beta of 1.05. 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 12 month low of $100.50 and a 12 month high of $169.12. The company's fifty day simple moving average is $138.45 and its 200 day simple moving average is $141.18.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share 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 analyst estimates of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. Equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.06%. Matson's dividend payout ratio is currently 9.69%.

Insider Buying and Selling at Matson

In other news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 2.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MATX. Stifel Nicolaus lifted their price target on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. Stephens lifted their price target on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th.

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.