Rhumbline Advisers Buys 1,518 Shares of Matson, Inc. (NYSE:MATX)

Rhumbline Advisers boosted its holdings in shares of Matson, Inc. (NYSE:MATX) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,398 shares of the shipping company’s stock after buying an additional 1,518 shares during the period. Rhumbline Advisers owned approximately 0.31% of Matson worth $13,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MATX. Creative Planning increased its position in Matson by 28.2% during the 3rd quarter. Creative Planning now owns 11,417 shares of the shipping company’s stock valued at $1,628,000 after buying an additional 2,511 shares in the last quarter. Blue Trust Inc. increased its position in Matson by 140.5% during the 3rd quarter. Blue Trust Inc. now owns 1,431 shares of the shipping company’s stock valued at $187,000 after buying an additional 836 shares in the last quarter. Private Advisor Group LLC acquired a new position in Matson during the 3rd quarter valued at about $210,000. International Assets Investment Management LLC increased its position in Matson by 14,162.0% during the 3rd quarter. International Assets Investment Management LLC now owns 42,786 shares of the shipping company’s stock valued at $6,102,000 after buying an additional 42,486 shares in the last quarter. Finally, Highland Capital Management LLC increased its holdings in shares of Matson by 12.3% in the third quarter. Highland Capital Management LLC now owns 2,239 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 245 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Up 0.1 %

Shares of MATX stock opened at $142.99 on Friday. The stock’s 50-day simple moving average is $139.50 and its 200-day simple moving average is $140.82. 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 market capitalization of $4.75 billion, a PE ratio of 11.90 and a beta of 1.05. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.95%. Matson’s payout ratio is 11.31%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MATX shares. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Stephens reissued an “overweight” rating and issued a $165.00 price objective on shares of Matson in a report on Thursday, January 2nd.

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.