Bank of Montreal Can Has $2.90 Million Stake in Matson Inc (MATX)
Bank of Montreal Can raised its holdings in shares of Matson Inc (NYSE:MATX) by 261.9% during the 4th quarter, Holdings Channel reports. The fund owned 90,503 shares of the shipping company’s stock after acquiring an additional 65,496 shares during the quarter. Bank of Montreal Can’s holdings in Matson were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Highland Capital Management LP purchased a new position in shares of Matson during the 3rd quarter worth $205,000. Fruth Investment Management boosted its stake in shares of Matson by 8.6% during the 4th quarter. Fruth Investment Management now owns 6,300 shares of the shipping company’s stock worth $201,000 after acquiring an additional 500 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Matson during the 2nd quarter worth $243,000. Meeder Asset Management Inc. boosted its stake in shares of Matson by 200.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,791 shares of the shipping company’s stock worth $389,000 after acquiring an additional 6,531 shares during the last quarter. Finally, Alpha Windward LLC purchased a new position in shares of Matson during the 4th quarter worth $373,000. Institutional investors and hedge funds own 84.37% of the company’s stock.
Several brokerages have recently weighed in on MATX. Zacks Investment Research cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Finally, Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Tuesday, November 20th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.60.
Shares of MATX stock opened at $32.04 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of 18.00 and a beta of 1.45. Matson Inc has a one year low of $27.73 and a one year high of $41.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.92 and a current ratio of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 7th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, February 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. Matson’s payout ratio is 47.19%.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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