Navellier & Associates Inc. Grows Holdings in Matson, Inc. (NYSE:MATX)

Navellier & Associates Inc. lifted its holdings in Matson, Inc. (NYSE:MATXGet Rating) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,165 shares of the shipping company’s stock after buying an additional 1,047 shares during the quarter. Navellier & Associates Inc.’s holdings in Matson were worth $1,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MATX. Acadian Asset Management LLC grew its position in Matson by 535.5% during the 1st quarter. Acadian Asset Management LLC now owns 471,235 shares of the shipping company’s stock valued at $56,827,000 after purchasing an additional 397,078 shares during the last quarter. BlackRock Inc. lifted its stake in Matson by 3.2% during the 1st quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock valued at $802,830,000 after acquiring an additional 204,399 shares during the period. Vanguard Group Inc. lifted its stake in Matson by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock valued at $561,594,000 after acquiring an additional 153,723 shares during the period. Goldman Sachs Group Inc. lifted its stake in Matson by 109.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 285,393 shares of the shipping company’s stock valued at $34,424,000 after acquiring an additional 149,444 shares during the period. Finally, Capital Research Global Investors lifted its stake in Matson by 6.2% during the 1st quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock valued at $253,890,000 after acquiring an additional 122,200 shares during the period. 83.98% of the stock is owned by hedge funds and other institutional investors.

Matson Stock Performance

Shares of NYSE:MATX traded up $0.45 during trading on Thursday, hitting $63.89. The company’s stock had a trading volume of 161,745 shares, compared to its average volume of 376,083. Matson, Inc. has a 12 month low of $60.35 and a 12 month high of $125.34. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 1.88 and a beta of 1.33. The company has a 50-day moving average of $67.72 and a 200-day moving average of $76.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.46 and a quick ratio of 1.46.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 9th. Matson’s payout ratio is 3.65%.

Insiders Place Their Bets

In other Matson news, EVP John P. Lauer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $68.41, for a total transaction of $136,820.00. Following the sale, the executive vice president now owns 33,745 shares in the company, valued at approximately $2,308,495.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matson news, EVP John P. Lauer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $68.41, for a total transaction of $136,820.00. Following the sale, the executive vice president now owns 33,745 shares in the company, valued at approximately $2,308,495.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jenai S. Wall acquired 1,250 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were bought at an average cost of $75.00 per share, with a total value of $93,750.00. Following the completion of the acquisition, the director now owns 12,342 shares in the company, valued at $925,650. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,438 shares of company stock worth $1,223,148. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MATX. Stifel Nicolaus lowered their target price on shares of Matson from $93.00 to $81.00 in a research note on Thursday, October 20th. Wolfe Research upgraded shares of Matson from an “underperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Finally, StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Friday, November 4th.

About Matson

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Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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