Janney Montgomery Scott LLC Acquires New Stake in Matson, Inc. (NYSE:MATX)

Janney Montgomery Scott LLC bought a new position in Matson, Inc. (NYSE:MATXFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,875 shares of the shipping company’s stock, valued at approximately $1,411,000.

Several other institutional investors and hedge funds have also made changes to their positions in MATX. Dimensional Fund Advisors LP grew its stake in Matson by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock worth $291,386,000 after purchasing an additional 43,846 shares in the last quarter. American Century Companies Inc. grew its position in shares of Matson by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after buying an additional 65,736 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Matson by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,500 shares of the shipping company’s stock valued at $31,540,000 after buying an additional 13,591 shares during the period. London Co. of Virginia raised its holdings in shares of Matson by 1.5% in the third quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock valued at $26,966,000 after acquiring an additional 4,455 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Matson by 12.6% in the third quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock worth $25,313,000 after acquiring an additional 31,833 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MATX has been the subject of several recent research reports. Stephens restated an “overweight” rating and issued a $135.00 price target on shares of Matson in a report on Friday, May 24th. StockNews.com downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Stifel Nicolaus upped their target price on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st.

Read Our Latest Stock Analysis on MATX

Insider Buying and Selling at Matson

In other news, SVP Richard S. Kinney sold 1,792 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $115.11, for a total transaction of $206,277.12. Following the sale, the senior vice president now owns 9,588 shares in the company, valued at $1,103,674.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Leonard P. Isotoff sold 2,800 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the transaction, the senior vice president now owns 4,746 shares in the company, valued at approximately $533,830.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard S. Kinney sold 1,792 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $115.11, for a total value of $206,277.12. Following the sale, the senior vice president now owns 9,588 shares in the company, valued at approximately $1,103,674.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,656 shares of company stock worth $746,256. 2.32% of the stock is owned by insiders.

Matson Stock Up 2.2 %

NYSE:MATX opened at $123.29 on Wednesday. The company’s 50-day simple moving average is $111.64 and its 200-day simple moving average is $109.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson, Inc. has a fifty-two week low of $67.97 and a fifty-two week high of $123.84. The stock has a market capitalization of $4.31 billion, a P/E ratio of 14.54 and a beta of 1.12.

Matson (NYSE:MATXGet Free Report) last announced its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million during the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. Matson’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. On average, equities analysts anticipate that Matson, Inc. will post 8.74 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.04%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio is currently 15.09%.

Matson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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