Navellier & Associates Inc. Increases Holdings in Matson, Inc. (NYSE:MATX)

Navellier & Associates Inc. grew its holdings in shares of Matson, Inc. (NYSE:MATX) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,401 shares of the shipping company’s stock after buying an additional 224 shares during the quarter. Navellier & Associates Inc.’s holdings in Matson were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MATX. Pacer Advisors Inc. raised its position in shares of Matson by 4,167,726.1% during the 3rd quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock valued at $136,716,000 after buying an additional 958,577 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Matson during the 4th quarter valued at about $9,788,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Matson during the 3rd quarter valued at about $6,735,000. International Assets Investment Management LLC raised its position in shares of Matson by 14,162.0% during the 3rd quarter. International Assets Investment Management LLC now owns 42,786 shares of the shipping company’s stock valued at $6,102,000 after buying an additional 42,486 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Matson during the 3rd quarter valued at about $5,746,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Stock Performance

Shares of NYSE:MATX opened at $142.99 on Monday. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 11.90 and a beta of 1.05. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The firm’s 50-day moving average is $139.50 and its 200 day moving average is $140.91. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson Announces Dividend

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

Analyst Upgrades and Downgrades

MATX has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and set a $165.00 price target on shares of Matson in a report on Thursday, January 2nd. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

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.