International Assets Investment Management LLC Increases Holdings in Matson, Inc. (NYSE:MATX)

International Assets Investment Management LLC increased its holdings in shares of Matson, Inc. (NYSE:MATX) by 10,860.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,880 shares of the shipping company’s stock after purchasing an additional 32,580 shares during the period. International Assets Investment Management LLC owned 0.09% of Matson worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MATX. O Shaughnessy Asset Management LLC boosted its position in Matson by 105.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock valued at $3,316,000 after buying an additional 19,149 shares during the last quarter. Dark Forest Capital Management LP boosted its position in Matson by 317.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock valued at $2,197,000 after buying an additional 18,830 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Matson by 25.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock valued at $5,381,000 after buying an additional 12,285 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Matson by 178.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company’s stock valued at $826,000 after buying an additional 5,973 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Matson by 12.6% in the 3rd quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock valued at $25,313,000 after buying an additional 31,833 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares in the company, valued at $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MATX. Stifel Nicolaus upped their price objective on shares of Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th.

Matson Stock Performance

Shares of MATX stock opened at $106.04 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07. Matson, Inc. has a one year low of $61.51 and a one year high of $122.99. The company’s 50-day simple moving average is $111.31 and its 200-day simple moving average is $104.48. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 12.65 and a beta of 1.12.

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

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 8th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. Matson’s payout ratio is 15.27%.

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.