Zurcher Kantonalbank Zurich Cantonalbank Purchases 565 Shares of Matson, Inc. (NYSE:MATX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Matson, Inc. (NYSE:MATX) by 35.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,155 shares of the shipping company’s stock after purchasing an additional 565 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matson were worth $236,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MATX. McGlone Suttner Wealth Management Inc. bought a new position in Matson in the fourth quarter worth approximately $26,000. Blue Trust Inc. raised its position in shares of Matson by 109.6% in the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after acquiring an additional 217 shares in the last quarter. U S Global Investors Inc. lifted its stake in shares of Matson by 13.4% during the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares during the last quarter. Planned Solutions Inc. bought a new stake in Matson during the fourth quarter valued at about $112,000. Finally, CI Investments Inc. purchased a new position in Matson in the third quarter valued at about $167,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MATX. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their target price on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st.

Matson Price Performance

Shares of MATX stock opened at $111.81 on Tuesday. Matson, Inc. has a fifty-two week low of $64.21 and a fifty-two week high of $122.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 13.19 and a beta of 1.12. The stock’s 50-day simple moving average is $108.69 and its 200-day simple moving average is $106.38.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. Matson’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, equities analysts forecast that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. Matson’s dividend payout ratio (DPR) is 15.09%.

Insiders Place Their Bets

In other news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now directly owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is currently owned by insiders.

About Matson

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.