GSA Capital Partners LLP increased its stake in shares of Matson, Inc. (NYSE:MATX) by 201.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,479 shares of the shipping company’s stock after purchasing an additional 93,158 shares during the quarter. Matson comprises about 0.3% of GSA Capital Partners LLP’s portfolio, making the stock its 21st biggest position. GSA Capital Partners LLP owned 0.33% of Matson worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Matson by 45.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,244,912 shares of the shipping company’s stock valued at $63,262,000 after purchasing an additional 701,610 shares during the last quarter. Capital Research Global Investors acquired a new position in Matson in the second quarter valued at approximately $15,531,000. Citadel Advisors LLC lifted its holdings in Matson by 198.1% in the second quarter. Citadel Advisors LLC now owns 212,674 shares of the shipping company’s stock valued at $6,388,000 after buying an additional 141,336 shares during the period. Vanguard Group Inc. lifted its holdings in Matson by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock valued at $117,853,000 after buying an additional 79,971 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Matson in the first quarter valued at approximately $2,017,000. 84.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Matson, Inc. (MATX) traded up $0.26 during midday trading on Thursday, reaching $28.31. 161,600 shares of the company traded hands, compared to its average volume of 241,737. Matson, Inc. has a fifty-two week low of $21.63 and a fifty-two week high of $38.78. The firm has a market capitalization of $1,190.66, a price-to-earnings ratio of 14.46, a P/E/G ratio of 3.19 and a beta of 1.27. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.07 and a quick ratio of 1.07.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th were issued a $0.20 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.83%. Matson’s dividend payout ratio (DPR) is presently 41.24%.
Several equities analysts recently weighed in on MATX shares. BidaskClub lowered shares of Matson from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Friday, August 18th. Zacks Investment Research lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Stephens lowered shares of Matson from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $38.00 to $23.00 in a report on Friday, August 18th. Finally, Wells Fargo & Company lowered shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $27.25.
In other Matson news, President Ronald J. Forest sold 16,491 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total value of $482,856.48. Following the sale, the president now directly owns 94,977 shares in the company, valued at $2,780,926.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
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Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.
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