Wedge Capital Management L L P NC Takes Position in Matson, Inc. (NYSE:MATX)

Wedge Capital Management L L P NC purchased a new position in shares of Matson, Inc. (NYSE:MATX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 72,590 shares of the shipping company’s stock, valued at approximately $9,788,000. Wedge Capital Management L L P NC owned 0.22% of Matson as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of Matson during the third quarter worth approximately $50,000. DekaBank Deutsche Girozentrale acquired a new stake in Matson during the third quarter worth approximately $92,000. Canada Pension Plan Investment Board bought a new position in Matson during the 2nd quarter worth $105,000. GAMMA Investing LLC raised its holdings in Matson by 45.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 343 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Matson by 1,661.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 1,030 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MATX. Stephens restated an “overweight” rating and issued a $165.00 price target on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Insider Transactions at Matson

In related news, EVP Peter T. Heilmann sold 5,404 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total value of $877,393.44. Following the completion of the transaction, the executive vice president now owns 32,952 shares in the company, valued at $5,350,086.72. This trade represents a 14.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Warren Sullivan sold 750 shares of Matson stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now owns 12,745 shares in the company, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,646 shares of company stock worth $1,578,768. Corporate insiders own 2.32% of the company’s stock.

Matson Price Performance

Matson stock opened at $137.48 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The stock has a market capitalization of $4.57 billion, a P/E ratio of 11.44 and a beta of 1.07. The stock has a fifty day moving average of $146.48 and a 200-day moving average of $138.81.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.40 earnings per share. On average, sell-side analysts expect that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Matson’s payout ratio is presently 11.31%.

About Matson

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.