Matson, Inc. (NYSE:MATX) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of Matson, Inc. (NYSE:MATX) by 17.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,189 shares of the shipping company’s stock after buying an additional 2,448 shares during the quarter. Ritholtz Wealth Management’s holdings in Matson were worth $2,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in Matson by 15.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,619 shares of the shipping company’s stock valued at $474,000 after purchasing an additional 485 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Matson by 13.6% in the second quarter. Envestnet Asset Management Inc. now owns 77,902 shares of the shipping company’s stock valued at $10,203,000 after buying an additional 9,351 shares during the last quarter. Edgestream Partners L.P. boosted its position in Matson by 98.1% in the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock valued at $1,315,000 after buying an additional 4,973 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Matson by 6.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,414 shares of the shipping company’s stock worth $447,000 after buying an additional 201 shares during the period. Finally, Hsbc Holdings PLC raised its position in Matson by 99.4% during the 2nd quarter. Hsbc Holdings PLC now owns 17,322 shares of the shipping company’s stock worth $2,246,000 after buying an additional 8,634 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MATX. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Stephens restated an “overweight” rating and set a $165.00 target price on shares of Matson in a research report on Thursday, January 2nd.

Insider Activity

In other Matson news, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction dated 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 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. Insiders have sold 9,646 shares of company stock worth $1,578,768 in the last ninety days. Company insiders own 2.32% of the company’s stock.

Matson Stock Down 2.7 %

Shares of MATX stock opened at $137.48 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a twelve month low of $100.50 and a twelve month high of $169.12. The stock has a 50 day moving average of $146.48 and a 200 day moving average of $138.74. The stock has a market cap of $4.57 billion, a P/E ratio of 11.44 and a beta of 1.07.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share 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 firm 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 firm earned $3.40 EPS. The business’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts expect that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

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

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.