Great West Life Assurance Co. Can increased its position in Matson, Inc. (NYSE:MATX) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,587 shares of the shipping company’s stock after buying an additional 1,788 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Matson worth $1,759,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock worth $151,000 after buying an additional 110 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Matson by 1.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,790 shares of the shipping company’s stock worth $311,000 after buying an additional 130 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Matson by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the shipping company’s stock worth $559,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Matson by 1.8% in the first quarter. Arizona State Retirement System now owns 22,485 shares of the shipping company’s stock worth $714,000 after buying an additional 400 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock worth $140,000 after buying an additional 434 shares during the last quarter. 84.23% of the stock is owned by institutional investors and hedge funds.

Shares of Matson, Inc. (MATX) opened at 24.23 on Tuesday. The firm has a market capitalization of $1.04 billion, a P/E ratio of 13.92 and a beta of 1.13. Matson, Inc. has a 12 month low of $21.63 and a 12 month high of $43.00. The company’s 50 day moving average price is $28.72 and its 200-day moving average price is $30.87.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. On average, equities analysts predict that Matson, Inc. will post $1.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.30%. Matson’s payout ratio is presently 46.24%.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/08/29/great-west-life-assurance-co-can-buys-1788-shares-of-matson-inc-matx.html.

A number of brokerages recently issued reports on MATX. Zacks Investment Research downgraded Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stephens set a $40.00 price objective on Matson and gave the stock a “buy” rating in a research report on Saturday, June 10th. BidaskClub downgraded Matson from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. TheStreet downgraded Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. Finally, Stifel Nicolaus raised Matson from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Matson has a consensus rating of “Hold” and a consensus price target of $27.00.

In other Matson news, Director Thomas B. Fargo acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $23.61 per share, for a total transaction of $47,220.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joel M. Wine acquired 6,100 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average price of $24.07 per share, for a total transaction of $146,827.00. Following the completion of the purchase, the chief financial officer now directly owns 99,411 shares of the company’s stock, valued at approximately $2,392,822.77. The disclosure for this purchase can be found here. Insiders bought 12,200 shares of company stock worth $292,734 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

About Matson

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.

Want to see what other hedge funds are holding MATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matson, Inc. (NYSE:MATX).

Institutional Ownership by Quarter for Matson (NYSE:MATX)

Receive News & Stock Ratings for Matson Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson Inc. and related stocks with our FREE daily email newsletter.