Hillsdale Investment Management Inc. Has $3.80 Million Holdings in Matson, Inc. (NYSE:MATX)

Hillsdale Investment Management Inc. grew its position in shares of Matson, Inc. (NYSE:MATX) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,170 shares of the shipping company’s stock after buying an additional 100 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.08% of Matson worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sei Investments Co. grew its position in Matson by 12.3% in the fourth quarter. Sei Investments Co. now owns 2,552 shares of the shipping company’s stock worth $344,000 after acquiring an additional 280 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Matson by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company’s stock valued at $146,562,000 after purchasing an additional 106,490 shares during the last quarter. Virtu Financial LLC bought a new stake in Matson in the fourth quarter worth $203,000. Magnetar Financial LLC acquired a new position in Matson during the fourth quarter worth $451,000. Finally, Teacher Retirement System of Texas raised its holdings in Matson by 37.7% during the fourth quarter. Teacher Retirement System of Texas now owns 22,804 shares of the shipping company’s stock valued at $3,075,000 after buying an additional 6,249 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Matson Price Performance

NYSE MATX opened at $128.95 on Friday. The stock has a 50-day simple moving average of $137.90 and a 200 day simple moving average of $140.99. Matson, Inc. has a twelve month low of $100.50 and a twelve month high of $169.12. The stock has a market capitalization of $4.23 billion, a PE ratio of 10.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.05%. Matson’s payout ratio is 9.69%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stephens increased their price objective on Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus increased their price target on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, February 26th.

Insider Activity

In other news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the sale, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.32% of the stock is owned by company insiders.

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.