Nisa Investment Advisors LLC Buys 80 Shares of Matson, Inc. (NYSE:MATX)

Nisa Investment Advisors LLC lifted its position in Matson, Inc. (NYSE:MATX) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 16,645 shares of the shipping company’s stock after acquiring an additional 80 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Matson were worth $2,244,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MATX. Harbor Capital Advisors Inc. bought a new stake in Matson in the 3rd quarter worth approximately $50,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Matson in the third quarter valued at $92,000. Canada Pension Plan Investment Board bought a new stake in Matson in the second quarter worth $105,000. GAMMA Investing LLC raised its stake in Matson by 45.6% during the third quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 343 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Matson by 1,661.3% during the third quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 1,030 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares of the company’s stock, valued at $2,109,297.50. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,646 shares of company stock valued at $1,578,768. Insiders own 2.32% of the company’s stock.

Analysts Set New Price Targets

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

Matson Stock Down 1.5 %

NYSE MATX opened at $136.44 on Monday. 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, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 11.35 and a beta of 1.07. The company has a fifty day moving average of $143.80 and a two-hundred day moving average of $139.30.

Matson (NYSE:MATX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same period in the previous year, the company earned $3.40 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, analysts predict that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be issued a $0.34 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. Matson’s payout ratio is 11.31%.

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.