Versor Investments LP Buys New Position in Matson, Inc. (NYSE:MATX)

Versor Investments LP bought a new stake in shares of Matson, Inc. (NYSE:MATX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 6,692 shares of the shipping company’s stock, valued at approximately $902,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in shares of Matson in the 4th quarter worth approximately $40,000. Harbor Capital Advisors Inc. bought a new stake in shares of Matson in the 3rd quarter worth approximately $50,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Matson in the 3rd quarter worth approximately $92,000. Rothschild Investment LLC lifted its position in shares of Matson by 31.4% in the 4th quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company’s stock worth $143,000 after acquiring an additional 253 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Matson by 1,661.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock worth $156,000 after acquiring an additional 1,030 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MATX. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their target price on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Stephens increased their target price on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday.

Matson Trading Down 2.2 %

MATX stock opened at $140.55 on Friday. The business has a fifty day moving average price of $139.52 and a 200 day moving average price of $141.11. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating 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 firm had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. Matson’s dividend payout ratio is 11.31%.

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.