Envestnet Asset Management Inc. Acquires 6,159 Shares of Matson, Inc. (NYSE:MATX)

Envestnet Asset Management Inc. boosted its holdings in Matson, Inc. (NYSE:MATX) by 7.5% in the 4th quarter, HoldingsChannel reports. The firm owned 88,749 shares of the shipping company’s stock after purchasing an additional 6,159 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Matson were worth $11,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aviva PLC bought a new position in shares of Matson during the fourth quarter worth $541,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Matson by 15.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 12,960 shares of the shipping company’s stock worth $1,748,000 after buying an additional 1,750 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Matson by 20.0% during the fourth quarter. Wells Fargo & Company MN now owns 26,929 shares of the shipping company’s stock valued at $3,631,000 after buying an additional 4,490 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Matson during the 4th quarter valued at approximately $544,000. Finally, Diametric Capital LP bought a new stake in Matson in the 4th quarter worth approximately $201,000. 84.76% of the stock is currently owned by institutional investors.

Matson Trading Up 0.4 %

NYSE MATX opened at $98.29 on Friday. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.18 and a beta of 1.12. Matson, Inc. has a one year low of $96.72 and a one year high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50-day simple moving average is $127.87 and its two-hundred day simple moving average is $138.07.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. Equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, February 6th. Matson’s dividend payout ratio is currently 9.69%.

Insider Transactions at Matson

In related news, EVP John P. Lauer sold 7,985 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16. The trade was a 24.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the sale, the senior vice president now owns 8,425 shares of the company’s stock, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Stephens lifted their price objective on shares of Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

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.