Tudor Investment Corp ET AL Has $5.70 Million Stock Holdings in Matson, Inc. $MATX

Tudor Investment Corp ET AL raised its stake in shares of Matson, Inc. (NYSE:MATX) by 2,944.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,850 shares of the shipping company’s stock after purchasing an additional 55,950 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Matson were worth $5,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Matson by 8.3% in the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after acquiring an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock valued at $2,501,000 after acquiring an additional 863 shares during the period. Millennium Management LLC boosted its position in shares of Matson by 7.1% in the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after acquiring an additional 6,778 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Matson in the first quarter valued at approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Matson by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after acquiring an additional 2,492 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MATX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Wolfe Research reissued an “outperform” rating and issued a $167.00 price objective on shares of Matson in a research report on Thursday, January 8th. Stephens increased their price objective on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $156.25.

Insider Transactions at Matson

In related news, EVP Peter T. Heilmann sold 13,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total value of $2,150,980.00. Following the completion of the transaction, the executive vice president directly owned 32,679 shares of the company’s stock, valued at $5,407,067.34. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin L. Stuck sold 2,524 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $167.08, for a total value of $421,709.92. Following the completion of the transaction, the vice president directly owned 2,331 shares of the company’s stock, valued at approximately $389,463.48. This trade represents a 51.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,550 shares of company stock valued at $7,034,602 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Matson Stock Up 2.6%

Shares of MATX stock opened at $172.43 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of 12.37 and a beta of 1.33. Matson, Inc. has a one year low of $86.97 and a one year high of $177.51. The stock has a fifty day moving average price of $162.00 and a 200 day moving average price of $131.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

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

Matson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, February 5th. Matson’s dividend payout ratio (DPR) is 10.33%.

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.