Paradiem LLC Acquires 14,165 Shares of Matson, Inc. (NYSE:MATX)

Paradiem LLC boosted its holdings in Matson, Inc. (NYSE:MATX) by 23.4% during the 4th quarter, Holdings Channel reports. The fund owned 74,716 shares of the shipping company’s stock after acquiring an additional 14,165 shares during the quarter. Matson comprises 2.3% of Paradiem LLC’s portfolio, making the stock its 5th largest holding. Paradiem LLC’s holdings in Matson were worth $8,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. increased its position in shares of Matson by 84.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,416 shares of the shipping company’s stock valued at $484,000 after purchasing an additional 2,023 shares during the period. GAMMA Investing LLC acquired a new position in shares of Matson during the 4th quarter valued at $89,000. Linden Thomas Advisory Services LLC increased its position in shares of Matson by 2.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 24,676 shares of the shipping company’s stock valued at $2,704,000 after purchasing an additional 680 shares during the period. New York State Common Retirement Fund increased its position in shares of Matson by 20.2% during the 4th quarter. New York State Common Retirement Fund now owns 24,891 shares of the shipping company’s stock valued at $2,728,000 after purchasing an additional 4,182 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Matson during the 4th quarter valued at $953,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MATX. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research report on Saturday, April 20th. Stifel Nicolaus lifted their target price on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st.

Insider Transactions at Matson

In other news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the sale, the senior vice president now owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.32% of the stock is currently owned by insiders.

Matson Price Performance

Shares of NYSE MATX traded down $0.78 during mid-day trading on Friday, reaching $108.94. The company had a trading volume of 171,616 shares, compared to its average volume of 198,083. 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 stock has a market cap of $3.76 billion, a PE ratio of 13.00 and a beta of 1.12. The company has a 50-day moving average price of $109.38 and a two-hundred day moving average price of $105.40. Matson, Inc. has a 1-year low of $62.71 and a 1-year high of $122.99.

Matson (NYSE:MATX) last issued its 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 analysts’ expectations of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 EPS. On average, equities analysts anticipate that Matson, Inc. will post 8.2 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be given a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.17%. Matson’s dividend payout ratio (DPR) is presently 15.27%.

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.