CIBC Asset Management Inc Takes Position in Matson, Inc. (NYSE:MATX)

CIBC Asset Management Inc acquired a new stake in shares of Matson, Inc. (NYSE:MATX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,880 shares of the shipping company’s stock, valued at approximately $253,000.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in Matson during the third quarter valued at approximately $50,000. DekaBank Deutsche Girozentrale purchased a new position in Matson during the third quarter valued at approximately $92,000. Farther Finance Advisors LLC grew its stake in Matson by 1,661.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock worth $156,000 after buying an additional 1,030 shares in the last quarter. GAMMA Investing LLC grew its stake in Matson by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock worth $166,000 after buying an additional 133 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in Matson in the 3rd quarter worth approximately $210,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

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

Matson Price Performance

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

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

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.96%. Matson’s dividend payout ratio (DPR) 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.