Oliver Luxxe Assets LLC Purchases 635 Shares of Matson, Inc. (NYSE:MATX)

Oliver Luxxe Assets LLC increased its position in Matson, Inc. (NYSE:MATX) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,546 shares of the shipping company’s stock after acquiring an additional 635 shares during the period. Oliver Luxxe Assets LLC’s holdings in Matson were worth $1,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Matson by 4,167,726.1% in the third 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 during the last quarter. Millennium Management LLC increased its holdings in Matson by 126.5% in the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after buying an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC raised its position in Matson by 52.1% in the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after buying an additional 122,017 shares during the last quarter. Forest Avenue Capital Management LP lifted its stake in Matson by 50.2% during the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock valued at $30,445,000 after acquiring an additional 77,731 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Matson during the 3rd quarter valued at about $6,735,000. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

Shares of Matson stock traded down $1.49 during trading hours on Monday, reaching $138.62. 119,075 shares of the stock traded hands, compared to its average volume of 190,406. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 11.53 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $148.95 and a 200 day moving average price of $138.00.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same period in the previous year, the business posted $3.40 earnings per share. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were issued a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.98%. Matson’s dividend payout ratio is currently 11.31%.

Analyst Ratings Changes

Several research firms have recently weighed in on MATX. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Stephens reissued an “overweight” rating and set a $165.00 price target on shares of Matson in a report on Thursday.

Insider Activity at Matson

In other news, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 32,952 shares of the company’s stock, valued at $5,350,086.72. This represents a 14.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,646 shares of company stock worth $1,578,768. Corporate insiders own 2.32% of the company’s stock.

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.