1,020 Shares in Matson, Inc. (NYSE:MATX) Acquired by Planned Solutions Inc.

Planned Solutions Inc. acquired a new position in Matson, Inc. (NYSE:MATX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,020 shares of the shipping company’s stock, valued at approximately $112,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its stake in Matson by 4.0% in the first 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 during the period. Exchange Traded Concepts LLC lifted its stake in Matson by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock valued at $862,000 after buying an additional 128 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Matson by 1.0% during the second quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the shipping company’s stock worth $1,126,000 after purchasing an additional 141 shares during the period. LPL Financial LLC raised its position in shares of Matson by 1.0% during the third quarter. LPL Financial LLC now owns 14,487 shares of the shipping company’s stock worth $1,285,000 after purchasing an additional 143 shares during the period. Finally, Bridgewater Associates LP raised its position in shares of Matson by 0.7% during 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 during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Performance

Shares of MATX opened at $111.17 on Thursday. The company has a market cap of $3.83 billion, a PE ratio of 13.27 and a beta of 1.13. 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 50-day moving average price of $112.61 and a 200-day moving average price of $102.08. Matson, Inc. has a 12-month low of $56.51 and a 12-month high of $122.99.

Matson (NYSE:MATX) last released its earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $788.90 million during 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%. Matson’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. As a group, equities analysts forecast that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 8th were paid a $0.32 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.15%. Matson’s dividend payout ratio (DPR) is currently 15.27%.

Insiders Place Their Bets

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 12,958 shares of the company’s stock, valued at approximately $1,397,261.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of a number of research reports. Stifel Nicolaus upped their target price on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. StockNews.com downgraded Matson from a “buy” rating to a “hold” rating in a report on Thursday.

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.