16,332 Shares in Matson, Inc. (NYSE:MATX) Acquired by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,332 shares of the shipping company's stock, valued at approximately $2,329,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in shares of Matson by 43.5% in the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock valued at $2,051,000 after buying an additional 4,361 shares during the last quarter. Artemis Investment Management LLP grew its stake in Matson by 31.5% during the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company's stock valued at $9,832,000 after acquiring an additional 17,992 shares in the last quarter. Edgestream Partners L.P. raised its holdings in Matson by 98.1% in the 2nd quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company's stock valued at $1,315,000 after acquiring an additional 4,973 shares during the last quarter. Summit Global Investments lifted its stake in Matson by 78.0% in the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company's stock worth $1,487,000 after purchasing an additional 4,567 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of 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 purchasing an additional 6,080 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In related news, EVP Peter T. Heilmann sold 5,404 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total value of $877,393.44. Following the completion of the transaction, the executive vice president now owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 21,871 shares in the company, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,145 shares of company stock valued at $2,513,455. Company insiders own 2.32% of the company's stock.

Matson Trading Down 0.8 %

Shares of MATX stock traded down $1.25 during trading on Friday, hitting $151.14. 208,100 shares of the stock traded hands, compared to its average volume of 236,931. Matson, Inc. has a 52-week low of $94.58 and a 52-week high of $169.12. The firm has a market capitalization of $5.02 billion, a P/E ratio of 12.57 and a beta of 1.04. The firm's fifty day moving average price is $147.28 and its 200-day moving average price is $135.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

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

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, November 7th. Matson's dividend payout ratio is presently 11.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research cut Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. StockNews.com lowered Matson from a "strong-buy" rating to a "buy" rating in a report on Friday, September 6th.

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.