International Assets Investment Management LLC Increases Stock Position in Matson, Inc. (NYSE:MATX)

International Assets Investment Management LLC boosted its holdings in shares of Matson, Inc. (NYSE:MATX) by 10,860.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,880 shares of the shipping company’s stock after buying an additional 32,580 shares during the quarter. International Assets Investment Management LLC’s holdings in Matson were worth $3,604,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MATX. McGlone Suttner Wealth Management Inc. bought a new stake in Matson during the 4th quarter valued at $26,000. Blue Trust Inc. lifted its stake in shares of Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after purchasing an additional 217 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of Matson by 13.4% during the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares during the last quarter. Planned Solutions Inc. bought a new stake in Matson during the fourth quarter valued at about $112,000. Finally, CI Investments Inc. purchased a new position in Matson in the third quarter valued at about $167,000. Institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Shares of MATX stock 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.47 and a beta of 1.12. The stock’s 50-day simple moving average is $108.82 and its 200-day simple moving average is $106.64.

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

Matson Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on MATX shares. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st.

Insider Buying and Selling

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total transaction of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Warren Sullivan sold 893 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were 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 in the company, valued at $1,492,547. The disclosure for this sale can be found here. Insiders sold 4,864 shares of company stock worth $539,979 in the last 90 days. Insiders own 2.32% of the company’s stock.

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.