Ashton Thomas Private Wealth LLC Invests $477,000 in Matson, Inc. $MATX

Ashton Thomas Private Wealth LLC purchased a new position in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,839 shares of the shipping company’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. raised its holdings in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. Headlands Technologies LLC bought a new stake in Matson during the 2nd quarter valued at approximately $28,000. Hantz Financial Services Inc. boosted its position in shares of Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Matson by 42.6% during the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after buying an additional 132 shares in the last quarter. Finally, State of Wyoming boosted its stake in Matson by 482.8% during the third quarter. State of Wyoming now owns 542 shares of the shipping company’s stock worth $53,000 after acquiring an additional 449 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MATX. Wolfe Research reissued an “outperform” rating and issued a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Stephens lifted their price objective on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $156.25.

Matson Price Performance

NYSE:MATX opened at $163.36 on Monday. The business’s 50-day simple moving average is $134.82 and its two-hundred day simple moving average is $114.36. The stock has a market cap of $5.09 billion, a PE ratio of 12.43 and a beta of 1.35. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $169.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson Dividend Announcement

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

Matson Company 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.