GAMMA Investing LLC Acquires Shares of 793 Matson, Inc. (NYSE:MATX)

GAMMA Investing LLC acquired a new stake in Matson, Inc. (NYSE:MATX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 793 shares of the shipping company’s stock, valued at approximately $89,000.

Other hedge funds have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Matson in the 4th quarter worth $26,000. Blue Trust Inc. boosted its position in shares of Matson by 109.6% in the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after purchasing an additional 217 shares during the last quarter. U S Global Investors Inc. boosted its position in shares of Matson by 13.4% in the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of Matson in the 4th quarter worth $112,000. Finally, CI Investments Inc. bought a new position in shares of Matson in the 3rd quarter worth $167,000. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Performance

MATX stock opened at $110.00 on Tuesday. The business’s 50-day moving average price is $109.24 and its two-hundred day moving average price is $105.66. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.79 billion, a PE ratio of 13.13 and a beta of 1.12. Matson, Inc. has a 1-year low of $62.71 and a 1-year high of $122.99.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. Matson had a return on equity of 12.71% and a net margin of 9.60%. The firm had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. During the same quarter last year, the business posted $2.10 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts forecast that Matson, Inc. will post 8.2 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio is 15.27%.

Wall Street Analyst Weigh In

MATX has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a report on Saturday, April 20th.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares of the company’s stock, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.

Matson Company Profile

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.