7,508 Shares in Matson, Inc. $MATX Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in shares of Matson, Inc. (NYSE:MATX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,508 shares of the shipping company’s stock, valued at approximately $740,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of Matson during the second quarter worth about $21,037,000. Farther Finance Advisors LLC raised its stake in Matson by 42.6% during the second quarter. Farther Finance Advisors LLC now owns 877 shares of the shipping company’s stock valued at $98,000 after buying an additional 262 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Matson by 37.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company’s stock valued at $12,541,000 after acquiring an additional 34,631 shares during the last quarter. Paradiem LLC boosted its holdings in Matson by 27.9% in the third quarter. Paradiem LLC now owns 102,721 shares of the shipping company’s stock worth $10,127,000 after purchasing an additional 22,393 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Matson by 44.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 75,943 shares of the shipping company’s stock valued at $8,689,000 after buying an additional 23,338 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Up 0.1%

Shares of MATX opened at $159.12 on Thursday. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $162.23. The firm has a market capitalization of $4.96 billion, a P/E ratio of 12.11 and a beta of 1.33. The company has a 50-day simple moving average of $127.04 and a 200-day simple moving average of $111.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83.

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

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 5th. Matson’s dividend payout ratio (DPR) is presently 10.96%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MATX. Stephens boosted their price objective on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Wolfe Research reaffirmed an “outperform” rating and set a $167.00 price target on shares of Matson in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $156.25.

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.