Cibc World Markets Corp Acquires New Shares in Matson, Inc. (NYSE:MATX)

Cibc World Markets Corp acquired a new stake in Matson, Inc. (NYSE:MATX) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,064 shares of the shipping company’s stock, valued at approximately $413,000.

A number of other hedge funds have also bought and sold shares of MATX. IFP Advisors Inc purchased a new position in Matson in the 4th quarter valued at approximately $40,000. U S Global Investors Inc. bought a new position in Matson in the 4th quarter valued at $111,000. Smartleaf Asset Management LLC boosted its holdings in Matson by 339.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company’s stock valued at $122,000 after purchasing an additional 696 shares during the period. Rothschild Investment LLC boosted its holdings in Matson by 31.4% in the 4th quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company’s stock valued at $143,000 after purchasing an additional 253 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Matson by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 133 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MATX. Stifel Nicolaus raised their price target on shares of Matson from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Stephens raised their price target on shares of Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th.

Matson Trading Down 0.6 %

Shares of MATX stock opened at $128.95 on Monday. The business has a 50-day moving average price of $137.90 and a two-hundred day moving average price of $141.03. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.23 billion, a P/E ratio of 10.73 and a beta of 1.05.

Matson (NYSE:MATX) last released its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Equities analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, February 6th. Matson’s dividend payout ratio is currently 9.69%.

Insider Buying and Selling

In other news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Matson 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.