Kingsview Wealth Management LLC Invests $2.37 Million in Matson, Inc. (NYSE:MATX)

Kingsview Wealth Management LLC purchased a new stake in Matson, Inc. (NYSE:MATX) in the fourth quarter, Holdings Channel reports. The firm purchased 17,580 shares of the shipping company’s stock, valued at approximately $2,370,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Natixis Advisors LLC raised its position in Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after purchasing an additional 78 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Matson by 0.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock valued at $2,244,000 after buying an additional 80 shares during the period. Inspire Investing LLC raised its holdings in shares of Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after acquiring an additional 85 shares in the last quarter. Caprock Group LLC lifted its stake in Matson by 4.2% in the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after acquiring an additional 91 shares during the period. Finally, First Trust Direct Indexing L.P. grew its holdings in Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock worth $237,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at Matson

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

Matson Trading Up 2.3 %

NYSE MATX opened at $139.28 on Tuesday. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The company has a 50 day moving average price of $140.61 and a 200 day moving average price of $139.95. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.63 billion, a PE ratio of 11.59 and a beta of 1.05.

Matson Announces Dividend

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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. Matson’s dividend payout ratio is presently 11.31%.

Analyst Upgrades and Downgrades

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

Matson Company 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.