Hillsdale Investment Management Inc. Purchases 100 Shares of Matson, Inc. (NYSE:MATX)

Hillsdale Investment Management Inc. boosted its position in shares of Matson, Inc. (NYSE:MATX) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,170 shares of the shipping company’s stock after purchasing an additional 100 shares during the period. Hillsdale Investment Management Inc.’s holdings in Matson were worth $3,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Matson by 12.3% during the fourth quarter. Sei Investments Co. now owns 2,552 shares of the shipping company’s stock worth $344,000 after buying an additional 280 shares in the last quarter. American Century Companies Inc. grew its position in Matson by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company’s stock worth $146,562,000 after acquiring an additional 106,490 shares during the last quarter. Virtu Financial LLC acquired a new stake in Matson during the 4th quarter valued at $203,000. Magnetar Financial LLC bought a new position in Matson in the 4th quarter valued at $451,000. Finally, Teacher Retirement System of Texas boosted its stake in Matson by 37.7% in the fourth quarter. Teacher Retirement System of Texas now owns 22,804 shares of the shipping company’s stock worth $3,075,000 after purchasing an additional 6,249 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The shares were 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 owns 25,192 shares of the company’s stock, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard S. Kinney sold 1,997 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the sale, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at $1,155,151.75. The trade was a 19.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Matson Trading Down 0.6 %

MATX stock opened at $128.95 on Friday. The business has a fifty day moving average of $137.90 and a 200-day moving average of $140.99. The company has a market cap of $4.23 billion, a P/E ratio of 10.73 and a beta of 1.05. Matson, Inc. has a twelve month low of $100.50 and a twelve month high of $169.12. 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 (NYSE:MATX) last announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.60. The firm had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. As a group, equities research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. Matson’s payout ratio is presently 9.69%.

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.