1,569 Shares in Matson, Inc. (NYSE:MATX) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new stake in shares of Matson, Inc. (NYSE:MATX) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,569 shares of the shipping company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MATX. Pacer Advisors Inc. raised its stake in shares of Matson by 4,167,726.1% during the 3rd quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after purchasing an additional 958,577 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Matson during the fourth quarter valued at approximately $9,788,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Matson in the third quarter valued at approximately $6,735,000. Nomura Asset Management Co. Ltd. bought a new stake in Matson in the third quarter worth approximately $5,746,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Matson during the 4th quarter worth $4,328,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 1,997 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares of the company’s stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Finally, Stephens increased their price objective on Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th.

Matson Price Performance

NYSE MATX opened at $132.29 on Thursday. Matson, Inc. has a 1 year low of $100.50 and a 1 year high of $169.12. The company has a fifty day simple moving average of $139.25 and a 200 day simple moving average of $141.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.35 billion, a P/E ratio of 11.01 and a beta of 1.05.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.60. The company had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. On average, sell-side analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 6th. Matson’s dividend payout ratio is currently 9.69%.

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.