Wedge Capital Management L L P NC Invests $9.79 Million in Matson, Inc. (NYSE:MATX)

Wedge Capital Management L L P NC acquired a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 72,590 shares of the shipping company's stock, valued at approximately $9,788,000. Wedge Capital Management L L P NC owned approximately 0.22% of Matson as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson in the 3rd quarter valued at about $50,000. DekaBank Deutsche Girozentrale purchased a new stake in Matson in the third quarter valued at approximately $92,000. Canada Pension Plan Investment Board acquired a new stake in shares of Matson in the second quarter valued at approximately $105,000. GAMMA Investing LLC grew its position in Matson by 45.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company's stock worth $156,000 after purchasing an additional 343 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Matson by 1,661.3% during the third quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company's stock worth $156,000 after buying an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were 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. The trade was a 12.06 % 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. Also, SVP John Warren Sullivan sold 750 shares of the company's stock in a transaction 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 sale, the senior vice president now directly owns 12,745 shares of the company's stock, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,646 shares of company stock valued at $1,578,768. Insiders own 2.32% of the company's stock.

Matson Price Performance

MATX traded down $3.80 during midday trading on Friday, reaching $137.48. 266,512 shares of the company's stock were exchanged, compared to its average volume of 203,279. Matson, Inc. has a 1-year low of $100.50 and a 1-year 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 debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The business's 50-day moving average price is $146.48 and its 200 day moving average price is $138.87.

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

Matson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MATX shares. Wolfe Research lowered shares of Matson from an "outperform" rating to a "peer perform" rating in a research report on Monday, November 18th. Stephens reaffirmed an "overweight" rating and issued a $165.00 target price on shares of Matson in a report on Thursday, January 2nd.

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.