CIBC Asset Management Inc Makes New $253,000 Investment in Matson, Inc. (NYSE:MATX)

CIBC Asset Management Inc acquired a new stake in shares of Matson, Inc. (NYSE:MATX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,880 shares of the shipping company’s stock, valued at approximately $253,000.

Other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Matson during the third quarter valued at about $50,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Matson during the third quarter valued at about $92,000. Farther Finance Advisors LLC lifted its position in shares of Matson by 1,661.3% during the third quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 133 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Matson during the third quarter valued at about $210,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MATX has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens reissued an “overweight” rating and set a $165.00 price target on shares of Matson in a research report on Thursday, January 2nd.

Matson Stock Performance

Shares of MATX stock opened at $141.27 on Wednesday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 11.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The firm’s 50-day simple moving average is $139.46 and its two-hundred day simple moving average is $141.01.

Matson (NYSE:MATX) last announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. As a group, equities analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 6th. Matson’s dividend payout ratio is 11.31%.

Matson 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.