Skylands Capital LLC Buys Shares of 11,600 Matson, Inc. $MATX

Skylands Capital LLC purchased a new position in shares of Matson, Inc. (NYSE:MATX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 11,600 shares of the shipping company’s stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC acquired a new position in Matson during the third quarter worth $253,000. Rhumbline Advisers increased its position in shares of Matson by 0.8% in the third quarter. Rhumbline Advisers now owns 99,673 shares of the shipping company’s stock valued at $9,827,000 after buying an additional 777 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Matson by 8.2% during the 3rd quarter. ProShare Advisors LLC now owns 65,083 shares of the shipping company’s stock worth $6,417,000 after buying an additional 4,912 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Matson by 1.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 29,347 shares of the shipping company’s stock worth $2,893,000 after buying an additional 365 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Matson in the 3rd quarter worth about $477,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Price Performance

NYSE:MATX opened at $160.35 on Wednesday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $169.20. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 12.20 and a beta of 1.35. The company’s 50-day moving average is $136.80 and its two-hundred day moving average is $115.10. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s dividend payout ratio is presently 10.96%.

Analyst Ratings Changes

Several equities analysts have weighed in on MATX shares. Stephens raised their target price on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Wolfe Research reiterated an “outperform” rating and issued a $167.00 price target on shares of Matson in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $156.25.

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.