Ashton Thomas Private Wealth LLC Invests $477,000 in Matson, Inc. $MATX

Ashton Thomas Private Wealth LLC acquired a new position in shares of Matson, Inc. (NYSE:MATX) during the 3rd quarter, Holdings Channel reports. The fund acquired 4,839 shares of the shipping company’s stock, valued at approximately $477,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MATX. Hantz Financial Services Inc. raised its stake 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 valued at $28,000 after acquiring an additional 102 shares during the period. Verdence Capital Advisors LLC grew its holdings in Matson by 3.3% during 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 grew its holdings in Matson by 19.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 120 shares during the last quarter. IFP Advisors Inc raised its position in Matson by 42.6% in 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. lifted its stake in Matson by 124.3% in the third 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. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Trading Up 2.2%

MATX opened at $163.36 on Monday. The stock’s fifty day moving average is $134.82 and its two-hundred day moving average is $114.36. The company has a market capitalization of $5.09 billion, a P/E ratio of 12.43 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 company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.