GAMMA Investing LLC Has $166,000 Stock Position in Matson, Inc. (NYSE:MATX)

GAMMA Investing LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,229 shares of the shipping company’s stock after purchasing an additional 133 shares during the period. GAMMA Investing LLC’s holdings in Matson were worth $166,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MATX. JPMorgan Chase & Co. boosted its holdings in shares of Matson by 10.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock valued at $40,927,000 after buying an additional 26,366 shares during the last quarter. Intech Investment Management LLC raised its position in Matson by 43.5% during the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock worth $2,051,000 after acquiring an additional 4,361 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Matson by 98.1% in the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock valued at $1,315,000 after acquiring an additional 4,973 shares during the last quarter. Summit Global Investments grew its position in shares of Matson by 78.0% in the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock valued at $1,487,000 after acquiring an additional 4,567 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock worth $1,476,000 after purchasing an additional 6,080 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $165.00 target price on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Insider Buying and Selling at Matson

In other Matson news, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the transaction, the executive vice president now owns 32,952 shares in the company, valued at $5,350,086.72. This represents a 14.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,646 shares of company stock valued at $1,578,768 in the last ninety days. 2.32% of the stock is currently owned by corporate insiders.

Matson Stock Performance

NYSE MATX opened at $139.27 on Thursday. The stock has a market cap of $4.63 billion, a PE ratio of 11.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average of $149.15 and a 200-day moving average of $138.33. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same period last year, the business posted $3.40 earnings per share. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were paid a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.98%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

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.