Navellier & Associates Inc. Acquires 224 Shares of Matson, Inc. (NYSE:MATX)

Navellier & Associates Inc. increased its holdings in shares of Matson, Inc. (NYSE:MATX) by 10.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,401 shares of the shipping company’s stock after buying an additional 224 shares during the period. Navellier & Associates Inc.’s holdings in Matson were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. boosted its stake in shares of Matson by 9.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company’s stock valued at $141,551,000 after purchasing an additional 91,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Matson by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company’s stock valued at $56,437,000 after purchasing an additional 20,568 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Matson by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock valued at $40,927,000 after purchasing an additional 26,366 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Matson by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 180,956 shares of the shipping company’s stock valued at $24,400,000 after purchasing an additional 4,945 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Matson by 1.5% during the fourth quarter. Rhumbline Advisers now owns 103,398 shares of the shipping company’s stock valued at $13,942,000 after acquiring an additional 1,518 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MATX shares. Stephens reissued an “overweight” rating and set a $165.00 target price on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Trading Up 0.1 %

NYSE:MATX opened at $142.99 on Monday. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The firm has a 50 day moving average of $139.50 and a 200 day moving average of $140.91. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 11.90 and a beta of 1.05.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be issued a $0.34 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.95%. Matson’s dividend payout ratio is currently 11.31%.

About Matson

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.