Matson, Inc. $MATX Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of Matson, Inc. (NYSE:MATX) by 8.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 65,083 shares of the shipping company’s stock after acquiring an additional 4,912 shares during the period. ProShare Advisors LLC’s holdings in Matson were worth $6,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in Matson by 124.3% in 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 in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after buying an additional 102 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Matson during the second quarter worth $28,000. IFP Advisors Inc grew its holdings in shares of Matson by 42.6% during the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after buying an additional 132 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Matson by 482.8% in the 3rd quarter. State of Wyoming now owns 542 shares of the shipping company’s stock valued at $53,000 after acquiring an additional 449 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Stock Down 2.6%

Matson stock opened at $158.53 on Friday. The business’s 50-day moving average price is $138.66 and its 200 day moving average price is $115.73. 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 firm has a market cap of $4.94 billion, a price-to-earnings ratio of 12.06 and a beta of 1.35. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $169.20.

Matson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on MATX shares. Wolfe Research reiterated an “outperform” rating and set a $167.00 price target on shares of Matson in a research note on Thursday, January 8th. Stephens lifted their target price on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Matson presently has a consensus rating of “Hold” and a consensus price target of $156.25.

About Matson

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.