Ritholtz Wealth Management Buys 3,566 Shares of Matson, Inc. (NYSE:MATX)

Ritholtz Wealth Management boosted its position in shares of Matson, Inc. (NYSE:MATX) by 39.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,707 shares of the shipping company’s stock after purchasing an additional 3,566 shares during the quarter. Ritholtz Wealth Management’s holdings in Matson were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its position in shares of Matson by 4.0% in the 1st quarter. Evergreen Capital Management LLC now owns 2,995 shares of the shipping company’s stock valued at $361,000 after buying an additional 115 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Matson by 1.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock worth $862,000 after buying an additional 128 shares during the period. PNC Financial Services Group Inc. raised its position in Matson by 1.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the shipping company’s stock valued at $1,126,000 after buying an additional 141 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Matson by 1.0% in the third quarter. LPL Financial LLC now owns 14,487 shares of the shipping company’s stock valued at $1,285,000 after purchasing an additional 143 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of Matson by 0.7% in the second quarter. Bridgewater Associates LP now owns 21,296 shares of the shipping company’s stock worth $1,655,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In other news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the completion of the transaction, the senior vice president now directly owns 12,958 shares in the company, valued at $1,397,261.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.32% of the stock is currently owned by insiders.

Matson Trading Up 1.1 %

MATX stock opened at $112.40 on Friday. The company’s 50-day simple moving average is $112.57 and its 200 day simple moving average is $102.15. Matson, Inc. has a 52 week low of $56.51 and a 52 week high of $122.99. The company has a market capitalization of $3.88 billion, a PE ratio of 13.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Matson, Inc. will post 8.2 earnings per share for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 8th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 7th. Matson’s payout ratio is 15.27%.

Wall Street Analyst Weigh In

Several brokerages have commented on MATX. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st.

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.