Oliver Luxxe Assets LLC Boosts Holdings in Matson, Inc. (NYSE:MATX)

Oliver Luxxe Assets LLC raised its stake in shares of Matson, Inc. (NYSE:MATX) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,546 shares of the shipping company’s stock after acquiring an additional 635 shares during the period. Oliver Luxxe Assets LLC’s holdings in Matson were worth $1,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis Advisors LLC boosted its position in shares of Matson by 0.5% during the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after acquiring an additional 78 shares during the last quarter. Caprock Group LLC lifted its stake in Matson by 4.2% in the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of 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 valued at $237,000 after purchasing an additional 107 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 133 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Matson by 1.9% in the third quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company’s stock worth $1,074,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Shares of Matson stock traded down $1.49 during trading hours on Monday, reaching $138.62. The company’s stock had a trading volume of 119,075 shares, compared to its average volume of 190,406. The firm has a 50 day moving average price of $148.95 and a 200-day moving average price of $138.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $4.60 billion, a P/E ratio of 11.53 and a beta of 1.07. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 earnings per share. On average, analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.98%. Matson’s dividend payout ratio is presently 11.31%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, EVP Peter T. Heilmann sold 5,404 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the sale, the executive vice president now directly owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the sale, the senior vice president now owns 4,254 shares of the company’s stock, valued at $686,000.04. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,646 shares of company stock valued at $1,578,768 over the last three months. 2.32% of the stock is owned by company insiders.

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.