Skylands Capital LLC Invests $1.14 Million in Matson, Inc. $MATX

Skylands Capital LLC bought a new stake in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,600 shares of the shipping company’s stock, valued at approximately $1,144,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after buying an additional 102 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Matson by 3.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock valued at $354,000 after purchasing an additional 116 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Matson by 19.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock worth $83,000 after purchasing an additional 120 shares during the period. IFP Advisors Inc boosted its stake in Matson by 42.6% during the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock worth $49,000 after purchasing an additional 132 shares during the period. Finally, Federated Hermes Inc. grew its position in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Wolfe Research reaffirmed an “outperform” rating and set a $167.00 price objective on shares of Matson in a research note on Thursday, January 8th. Finally, Stephens increased their price objective on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $156.25.

Matson Trading Down 1.0%

NYSE MATX opened at $160.35 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $5.00 billion, a P/E ratio of 12.20 and a beta of 1.35. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $169.20. The firm has a 50-day moving average price of $136.80 and a 200 day moving average price of $115.10.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Matson’s dividend payout ratio is 10.96%.

Matson Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.