Tudor Investment Corp ET AL Purchases 55,950 Shares of Matson, Inc. $MATX

Tudor Investment Corp ET AL raised its holdings in shares of Matson, Inc. (NYSE:MATX) by 2,944.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,850 shares of the shipping company’s stock after acquiring an additional 55,950 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Matson were worth $5,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its position in shares of Matson by 3.3% in the third quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock worth $354,000 after purchasing an additional 116 shares in the last quarter. Federated Hermes Inc. grew its position in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Matson by 1.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 8,177 shares of the shipping company’s stock valued at $806,000 after buying an additional 146 shares during the last quarter. Xponance Inc. increased its stake in Matson by 6.1% in the 3rd quarter. Xponance Inc. now owns 2,849 shares of the shipping company’s stock valued at $281,000 after buying an additional 165 shares during the last quarter. Finally, Amundi lifted its position in Matson by 3.1% during the 3rd quarter. Amundi now owns 5,637 shares of the shipping company’s stock worth $557,000 after buying an additional 168 shares in the last quarter. 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 research reports. Wolfe Research reaffirmed an “outperform” rating and issued a $167.00 target price on shares of Matson in a research report on Thursday, January 8th. Stephens boosted their price target on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Matson presently has a consensus rating of “Hold” and an average target price of $156.25.

Insider Transactions at Matson

In other news, EVP John P. Lauer sold 8,603 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $166.13, for a total transaction of $1,429,216.39. Following the completion of the sale, the executive vice president directly owned 23,738 shares in the company, valued at approximately $3,943,593.94. This represents a 26.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vic S. Angoco, Jr. sold 6,189 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $165.31, for a total value of $1,023,103.59. Following the completion of the transaction, the executive vice president directly owned 14,800 shares of the company’s stock, valued at approximately $2,446,588. This trade represents a 29.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,550 shares of company stock worth $7,034,602. Corporate insiders own 2.51% of the company’s stock.

Matson Stock Performance

NYSE:MATX opened at $163.31 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $159.10 and a 200 day simple moving average of $126.68. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $177.51. The stock has a market cap of $4.97 billion, a P/E ratio of 11.72 and a beta of 1.32.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The company had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. During the same quarter last year, the firm earned $3.80 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts anticipate 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 was paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, February 5th. Matson’s dividend payout ratio (DPR) is 10.33%.

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.