Matson, Inc. $MATX Shares Acquired by Paradiem LLC

Paradiem LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX) by 27.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,721 shares of the shipping company’s stock after purchasing an additional 22,393 shares during the quarter. Matson makes up approximately 2.4% of Paradiem LLC’s holdings, making the stock its 26th largest position. Paradiem LLC owned approximately 0.32% of Matson worth $10,127,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Matson by 4.9% during the second quarter. American Century Companies Inc. now owns 1,215,407 shares of the shipping company’s stock valued at $135,336,000 after acquiring an additional 56,573 shares during the period. Ameriprise Financial Inc. lifted its position in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after purchasing an additional 128,994 shares during the last quarter. LSV Asset Management boosted its stake in Matson by 6.5% during the 2nd quarter. LSV Asset Management now owns 317,422 shares of the shipping company’s stock valued at $35,345,000 after purchasing an additional 19,508 shares during the period. Qube Research & Technologies Ltd boosted its stake in Matson by 79.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock valued at $24,123,000 after purchasing an additional 95,796 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Matson in the 2nd quarter worth about $21,037,000. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Up 0.5%

MATX opened at $125.18 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $3.90 billion, a PE ratio of 9.53 and a beta of 1.33. The stock’s fifty day moving average is $109.92 and its 200-day moving average is $107.36. Matson, Inc. has a one year low of $86.97 and a one year high of $154.23.

Matson (NYSE:MATX) last released its earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.99. Matson had a return on equity of 16.23% and a net margin of 12.70%.The firm had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. During the same period in the previous year, the company earned $5.89 earnings per share. Matson’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, November 6th. Matson’s payout ratio is presently 10.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MATX shares. Zacks Research upgraded Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Wolfe Research raised Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 target price on the stock in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research note on Monday, December 22nd. Finally, Stephens raised their price target on Matson from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matson presently has a consensus rating of “Hold” and an average target price of $141.75.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.