Matson, Inc. $MATX Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its position in shares of Matson, Inc. (NYSE:MATX) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,332 shares of the shipping company’s stock after purchasing an additional 13,104 shares during the period. Assetmark Inc. owned approximately 0.21% of Matson worth $6,638,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MATX. Royal Bank of Canada raised its stake in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after buying an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after acquiring an additional 863 shares in the last quarter. Millennium Management LLC raised its position in Matson by 7.1% in the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after acquiring an additional 6,778 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Matson in the first quarter valued at $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Matson by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock worth $3,135,000 after purchasing an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Wolfe Research reissued an “outperform” rating and set a $167.00 price objective on shares of Matson in a report on Thursday, January 8th. Finally, Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Matson has a consensus rating of “Hold” and a consensus target price of $156.25.

Matson Stock Performance

NYSE:MATX opened at $162.27 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $140.53 and a two-hundred day moving average price of $116.62. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $169.20. The company has a market capitalization of $5.06 billion, a P/E ratio of 12.35 and a beta of 1.35.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson’s dividend payout ratio is presently 10.96%.

Matson Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.