Picton Mahoney Asset Management Buys Shares of 2,380 Matson, Inc. (NYSE:MATX)

Picton Mahoney Asset Management bought a new position in Matson, Inc. (NYSE:MATX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,380 shares of the shipping company’s stock, valued at approximately $261,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its stake in shares of Matson by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after acquiring an additional 108 shares in the last quarter. U S Global Investors Inc. boosted its holdings in shares of Matson by 13.4% in the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after buying an additional 118 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Matson by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock worth $862,000 after acquiring an additional 128 shares in the last quarter. Check Capital Management Inc. CA raised its holdings in shares of Matson by 4.6% during the fourth quarter. Check Capital Management Inc. CA now owns 3,720 shares of the shipping company’s stock valued at $408,000 after acquiring an additional 165 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Matson by 6.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after acquiring an additional 213 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Trading Up 2.1 %

Matson stock opened at $114.22 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Matson, Inc. has a 12 month low of $64.21 and a 12 month high of $122.99. The company’s fifty day simple moving average is $108.82 and its 200-day simple moving average is $106.64. The stock has a market cap of $3.90 billion, a P/E ratio of 13.47 and a beta of 1.12.

Matson (NYSE:MATX) last issued its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. As a group, sell-side analysts forecast that Matson, Inc. will post 8.51 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, May 8th. Matson’s dividend payout ratio is 15.09%.

Analyst Ratings Changes

MATX has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. StockNews.com downgraded Matson from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total transaction of $126,268.93. Following the transaction, the senior vice president now directly owns 12,958 shares in the company, valued at $1,397,261.14. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Leonard P. Isotoff sold 2,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total transaction of $314,944.00. Following the sale, the senior vice president now directly owns 4,746 shares of the company’s stock, valued at $533,830.08. The disclosure for this sale can be found here. Insiders have sold a total of 4,864 shares of company stock worth $539,979 in the last 90 days. 2.32% of the stock is owned by insiders.

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.