GAMMA Investing LLC Has $166,000 Position in Matson, Inc. (NYSE:MATX)

GAMMA Investing LLC increased its position in shares of Matson, Inc. (NYSE:MATX) by 12.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,229 shares of the shipping company’s stock after purchasing an additional 133 shares during the period. GAMMA Investing LLC’s holdings in Matson were worth $166,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Matson by 15.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,619 shares of the shipping company’s stock valued at $474,000 after purchasing an additional 485 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Matson by 7.4% during the 2nd quarter. TD Asset Management Inc now owns 11,600 shares of the shipping company’s stock worth $1,519,000 after buying an additional 800 shares during the last quarter. National Bank of Canada FI boosted its stake in Matson by 0.9% in the second quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company’s stock valued at $2,569,000 after buying an additional 172 shares in the last quarter. Acadian Asset Management LLC bought a new position in Matson in the second quarter valued at about $2,802,000. Finally, Caprock Group LLC acquired a new position in Matson during the second quarter worth about $287,000. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Stock Performance

Shares of MATX stock opened at $139.27 on Thursday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 11.59 and a beta of 1.07. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $149.15 and its 200-day moving average price is $138.33. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period last year, the company earned $3.40 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. Equities research analysts forecast that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. Matson’s dividend payout ratio is 11.31%.

Insider Activity at Matson

In other news, EVP Peter T. Heilmann sold 5,404 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total value of $877,393.44. Following the transaction, the executive vice president now owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Warren Sullivan sold 750 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now owns 12,745 shares of the company’s stock, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,646 shares of company stock worth $1,578,768 over the last three months. Company insiders own 2.32% of the company’s stock.

About Matson

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.