Wedge Capital Management L L P NC Makes New $9.79 Million Investment in Matson, Inc. (NYSE:MATX)

Wedge Capital Management L L P NC acquired a new stake in Matson, Inc. (NYSE:MATX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 72,590 shares of the shipping company’s stock, valued at approximately $9,788,000.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Matson by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock valued at $40,927,000 after buying an additional 26,366 shares during the period. Intech Investment Management LLC boosted its position in shares of Matson by 43.5% during the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock valued at $2,051,000 after purchasing an additional 4,361 shares in the last quarter. Edgestream Partners L.P. grew its stake in Matson by 98.1% during the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock worth $1,315,000 after purchasing an additional 4,973 shares during the period. Quest Partners LLC increased its holdings in Matson by 142.5% in the third quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock worth $1,476,000 after purchasing an additional 6,080 shares in the last quarter. Finally, Summit Global Investments lifted its stake in Matson by 78.0% in the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock valued at $1,487,000 after buying an additional 4,567 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Matson

In other Matson news, SVP John Warren Sullivan sold 750 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,646 shares of company stock worth $1,578,768. Insiders own 2.32% of the company’s stock.

Matson Trading Down 2.7 %

NYSE MATX opened at $137.48 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The business has a 50 day moving average price of $146.48 and a 200-day moving average price of $138.81. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 11.44 and a beta of 1.07.

Matson (NYSE:MATX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same quarter in the previous year, the business posted $3.40 EPS. Matson’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, equities analysts expect that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were given a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.99%. Matson’s payout ratio is 11.31%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MATX shares. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th. Stephens reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd.

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.