Tudor Investment Corp ET AL Acquires 55,950 Shares of Matson, Inc. $MATX

Tudor Investment Corp ET AL grew its holdings in Matson, Inc. (NYSE:MATX) by 2,944.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,850 shares of the shipping company’s stock after buying an additional 55,950 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.19% of Matson worth $5,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MATX. Wedge Capital Management L L P NC increased its stake in shares of Matson by 37.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company’s stock valued at $12,541,000 after buying an additional 34,631 shares during the period. Paradiem LLC lifted its stake in shares of Matson by 27.9% during the third quarter. Paradiem LLC now owns 102,721 shares of the shipping company’s stock valued at $10,127,000 after acquiring an additional 22,393 shares during the period. SummerHaven Investment Management LLC bought a new position in Matson in the third quarter valued at about $740,000. American Century Companies Inc. increased its position in Matson by 2.9% in the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock worth $123,300,000 after purchasing an additional 35,229 shares during the period. Finally, Assetmark Inc. raised its holdings in Matson by 24.2% during the 3rd quarter. Assetmark Inc. now owns 67,332 shares of the shipping company’s stock worth $6,638,000 after purchasing an additional 13,104 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Performance

MATX stock opened at $163.31 on Wednesday. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $177.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.97 billion, a PE ratio of 11.72 and a beta of 1.32. The business’s 50-day moving average price is $159.10 and its two-hundred day moving average price is $126.68.

Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.91. The company had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. Matson had a return on equity of 16.63% and a net margin of 13.30%.The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.80 earnings per share. As a group, research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, February 5th. Matson’s dividend payout ratio (DPR) is 10.33%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MATX. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Stephens raised their price objective on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Wolfe Research reiterated an “outperform” rating and set a $167.00 target price on shares of Matson in a research report on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.25.

Insider Activity

In other Matson news, VP Kevin L. Stuck sold 2,524 shares of Matson stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $167.08, for a total value of $421,709.92. Following the transaction, the vice president owned 2,331 shares of the company’s stock, valued at approximately $389,463.48. The trade was a 51.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John P. Lauer sold 8,603 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $166.13, for a total transaction of $1,429,216.39. Following the sale, the executive vice president directly owned 23,738 shares of the company’s stock, valued at $3,943,593.94. This represents a 26.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,550 shares of company stock worth $7,034,602. Corporate insiders own 2.51% of the company’s stock.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.