21,422 Shares in Matson, Inc. (NYSE:MATX) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC purchased a new stake in Matson, Inc. (NYSE:MATX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 21,422 shares of the shipping company’s stock, valued at approximately $2,802,000. Acadian Asset Management LLC owned approximately 0.06% of Matson as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MATX. TruNorth Capital Management LLC bought a new stake in shares of Matson during the 2nd quarter valued at about $27,000. Security National Bank purchased a new stake in Matson in the fourth quarter worth about $36,000. International Assets Investment Management LLC bought a new stake in Matson during the 2nd quarter valued at approximately $39,000. Evermay Wealth Management LLC bought a new stake in Matson during the 4th quarter valued at approximately $66,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Matson during the 1st quarter worth approximately $71,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Matthew J. Cox sold 7,500 shares of Matson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now owns 215,397 shares of the company’s stock, valued at $29,546,006.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,376 shares of company stock valued at $13,565,120. Corporate insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens raised their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Matson Stock Performance

Matson stock opened at $132.63 on Friday. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $138.84. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $4.45 billion, a P/E ratio of 15.64 and a beta of 1.07. The stock’s 50 day moving average is $130.47 and its 200 day moving average is $120.35.

Matson (NYSE:MATX) last released its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The firm had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. On average, equities research analysts predict that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were issued a $0.34 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s payout ratio is presently 16.04%.

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.