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

Picton Mahoney Asset Management lowered its holdings in Matson, Inc. (NYSE:MATX) by 32.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,750 shares of the shipping company’s stock after selling 1,770 shares during the quarter. Picton Mahoney Asset Management’s holdings in Matson were worth $506,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new position in shares of Matson during the fourth quarter valued at about $40,000. U S Global Investors Inc. acquired a new position in Matson in the 4th quarter valued at approximately $111,000. Smartleaf Asset Management LLC lifted its position in shares of Matson by 339.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company’s stock worth $122,000 after acquiring an additional 696 shares during the period. Rothschild Investment LLC grew its holdings in shares of Matson by 31.4% during the 4th quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company’s stock worth $143,000 after purchasing an additional 253 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 133 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Stephens lifted their target price 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. Finally, 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 NYSE:MATX opened at $129.96 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The business’s fifty day moving average price is $138.88 and its two-hundred day moving average price is $141.31. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.81 and a beta of 1.05.

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

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, February 6th. Matson’s payout ratio is 9.69%.

Insider Transactions at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the business’s 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 transaction, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.32% of the stock is owned by company insiders.

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.