2,380 Shares in Matson, Inc. (NYSE:MATX) Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new position in shares of Matson, Inc. (NYSE:MATX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,380 shares of the shipping company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in Matson by 32.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,911 shares of the shipping company’s stock valued at $524,000 after buying an additional 1,463 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Matson by 6.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 213 shares in the last quarter. TD Asset Management Inc grew its stake in Matson by 11.9% during the third quarter. TD Asset Management Inc now owns 22,600 shares of the shipping company’s stock worth $2,005,000 after purchasing an additional 2,400 shares during the period. Skylands Capital LLC bought a new stake in Matson in the third quarter worth approximately $244,000. Finally, Assetmark Inc. lifted its stake in Matson by 4.2% in the third quarter. Assetmark Inc. now owns 36,736 shares of the shipping company’s stock valued at $3,259,000 after buying an additional 1,467 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MATX has been the subject of several research analyst reports. StockNews.com lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st.

Insiders Place Their Bets

In related news, SVP John Warren Sullivan sold 893 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total transaction of $98,765.80. Following the completion of the sale, the senior vice president now directly owns 13,495 shares of the company’s stock, valued at $1,492,547. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Matson news, SVP Leonard P. Isotoff sold 2,800 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the sale, the senior vice president now directly owns 4,746 shares in the company, valued at $533,830.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John Warren Sullivan sold 893 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total value of $98,765.80. Following the transaction, the senior vice president now owns 13,495 shares of the company’s stock, valued at approximately $1,492,547. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,864 shares of company stock valued at $539,979. Corporate insiders own 2.32% of the company’s stock.

Matson Trading Up 2.1 %

MATX opened at $114.22 on Friday. Matson, Inc. has a fifty-two week low of $64.21 and a fifty-two week high of $122.99. The firm has a market capitalization of $3.90 billion, a PE ratio of 13.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $108.82 and its 200 day moving average is $106.64.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. Matson’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. As a group, research analysts predict that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is presently 15.09%.

Matson 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.