Matson, Inc. (NYSE:MATX) is Paradiem LLC’s 5th Largest Position

Paradiem LLC raised its stake in Matson, Inc. (NYSE:MATX) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,716 shares of the shipping company’s stock after buying an additional 14,165 shares during the quarter. Matson makes up approximately 2.3% of Paradiem LLC’s investment portfolio, making the stock its 5th largest position. Paradiem LLC owned about 0.21% of Matson worth $8,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MATX. Schonfeld Strategic Advisors LLC purchased a new position in shares of Matson during the 3rd quarter worth $14,074,000. American Century Companies Inc. grew its holdings in shares of Matson by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after purchasing an additional 65,736 shares during the period. Forest Avenue Capital Management LP purchased a new position in shares of Matson during the 3rd quarter worth $4,347,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Matson by 170.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 70,561 shares of the shipping company’s stock worth $6,260,000 after purchasing an additional 44,477 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Matson during the 4th quarter worth about $4,709,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Trading Down 0.7 %

MATX traded down $0.78 during mid-day trading on Friday, hitting $108.94. 171,616 shares of the stock were exchanged, compared to its average volume of 198,083. The firm’s fifty day moving average is $109.38 and its two-hundred day moving average is $105.40. Matson, Inc. has a 1-year low of $62.71 and a 1-year high of $122.99. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.76 billion, a PE ratio of 13.00 and a beta of 1.12.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $788.90 million for the quarter, compared to analyst estimates of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. Matson’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Equities analysts forecast that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, May 8th. Matson’s dividend payout ratio is currently 15.27%.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares of the company’s stock, valued at approximately $1,397,261.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MATX has been the topic of several research reports. Stifel Nicolaus increased their target price on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a research note on Saturday, April 20th.

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.