Picton Mahoney Asset Management Has $506,000 Stake in Matson, Inc. (NYSE:MATX)

Picton Mahoney Asset Management reduced its holdings in Matson, Inc. (NYSE:MATX) by 32.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,750 shares of the shipping company’s stock after selling 1,770 shares during the period. Picton Mahoney Asset Management’s holdings in Matson were worth $506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock worth $40,927,000 after buying an additional 26,366 shares during the period. Intech Investment Management LLC grew its holdings in Matson by 43.5% during the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock valued at $2,051,000 after purchasing an additional 4,361 shares during the period. Quest Partners LLC increased its stake in Matson by 142.5% in the third quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock valued at $1,476,000 after purchasing an additional 6,080 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Matson by 7.5% in the third quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock worth $1,437,000 after purchasing an additional 703 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Matson during the third quarter worth $512,000. 84.76% of the stock is owned by institutional investors.

Matson Trading Up 0.4 %

Shares of NYSE:MATX opened at $129.96 on Monday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 10.81 and a beta of 1.05. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The company’s fifty day simple moving average is $138.88 and its 200 day simple moving average is $141.31. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

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

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, February 6th. Matson’s dividend payout ratio (DPR) is currently 9.69%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stephens upped their price objective on shares of Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price target on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Finally, Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Insider Transactions at Matson

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