Atria Wealth Solutions Inc. Buys 2,023 Shares of Matson, Inc. (NYSE:MATX)

Atria Wealth Solutions Inc. grew its stake in shares of Matson, Inc. (NYSE:MATX) by 84.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,416 shares of the shipping company’s stock after buying an additional 2,023 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Matson were worth $484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MATX. Cambridge Investment Research Advisors Inc. grew its position in Matson by 32.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,911 shares of the shipping company’s stock valued at $524,000 after acquiring an additional 1,463 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings 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 during the last quarter. TD Asset Management Inc raised its position in Matson by 11.9% in the 3rd 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 $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 worth $3,259,000 after purchasing an additional 1,467 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now directly owns 12,958 shares in the company, valued at approximately $1,397,261.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is currently owned by company insiders.

Matson Price Performance

MATX stock opened at $111.81 on Tuesday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 13.19 and a beta of 1.12. The firm’s 50-day moving average price is $108.69 and its two-hundred day moving average price is $106.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. Matson, Inc. has a 12-month low of $64.21 and a 12-month high of $122.99.

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

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, May 8th. Matson’s payout ratio is 15.09%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

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.