Citigroup Inc. Purchases 16,712 Shares of Matson, Inc. $MATX

Citigroup Inc. lifted its position in Matson, Inc. (NYSE:MATX) by 49.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,580 shares of the shipping company’s stock after acquiring an additional 16,712 shares during the quarter. Citigroup Inc. owned 0.16% of Matson worth $4,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MATX. American Century Companies Inc. lifted its position in shares of Matson by 4.9% during the second quarter. American Century Companies Inc. now owns 1,215,407 shares of the shipping company’s stock valued at $135,336,000 after buying an additional 56,573 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Matson by 27.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after acquiring an additional 128,994 shares in the last quarter. LSV Asset Management lifted its position in Matson by 6.5% during the second quarter. LSV Asset Management now owns 317,422 shares of the shipping company’s stock valued at $35,345,000 after acquiring an additional 19,508 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Matson by 79.3% in the second quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock valued at $24,123,000 after acquiring an additional 95,796 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in Matson by 37.4% in the third quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company’s stock worth $12,541,000 after purchasing an additional 34,631 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Trading Down 1.7%

Shares of NYSE:MATX opened at $168.37 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51. The business has a 50 day moving average of $150.39 and a two-hundred day moving average of $121.20. The company has a market capitalization of $5.13 billion, a PE ratio of 12.08 and a beta of 1.32.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.91. The company had revenue of $851.90 million during the quarter, compared to analysts’ expectations of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.80 earnings per share. As a group, analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 5th. Matson’s dividend payout ratio is currently 10.33%.

Analysts Set New Price Targets

MATX has been the subject of a number of recent analyst reports. Wolfe Research reissued an “outperform” rating and issued a $167.00 price objective on shares of Matson in a research report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Finally, Stephens raised their price target 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $156.25.

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.