ProShare Advisors LLC Boosts Position in Matson, Inc. $MATX

ProShare Advisors LLC raised its stake in Matson, Inc. (NYSE:MATX) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,083 shares of the shipping company’s stock after buying an additional 4,912 shares during the period. ProShare Advisors LLC owned about 0.20% of Matson worth $6,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Headlands Technologies LLC purchased a new position in Matson during the 2nd quarter worth $28,000. Hantz Financial Services Inc. increased its holdings in Matson by 67.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after purchasing an additional 102 shares during the period. IFP Advisors Inc raised its position in Matson by 42.6% during the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 132 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of Matson by 482.8% in the 3rd quarter. State of Wyoming now owns 542 shares of the shipping company’s stock worth $53,000 after buying an additional 449 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Performance

Shares of Matson stock opened at $158.53 on Friday. The company has a market capitalization of $4.94 billion, a PE ratio of 12.06 and a beta of 1.35. The company has a 50-day simple moving average of $138.66 and a two-hundred day simple moving average of $115.73. Matson, Inc. has a one year low of $86.97 and a one year high of $169.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83.

Matson Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Matson Company 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.