5 Best Shipping and Container Stocks To Buy

2. Matson, Inc. (NYSE:MATX)

Number of Hedge Fund Holders: 22

Matson, Inc. (NYSE:MATX), headquartered in Honolulu, Hawaii, is an American shipping and navigation services company established in 1882. The company’s subsidiary, Matson Navigation Company, offers ocean shipping services spanning the Pacific, serving destinations such as Hawaii, Alaska, Guam, Micronesia, the South Pacific, China, and Japan.

According to Insider Monkey’s first quarter database, 22 hedge funds were bullish on Matson, Inc. (NYSE:MATX), compared to 17 funds in the prior quarter. Ryan Tolkin’s Schonfeld Strategic Advisors is a prominent stakeholder of the company, with 158,630 shares worth $14.07 million.

The London Company Small Cap Strategy made the following comment about Matson, Inc. (NYSE:MATX) in its second quarter 2023 investor letter:

“Matson, Inc. (NYSE:MATX) – Shares of MATX rallied during Q2 as the company’s ocean freight services benefited from stabilizing market conditions and freight rates. Transpacific trade dynamics may improve as retailers continue to work through inventory, while the return of tourism should help support demand in its Jones Act markets. MATX’s success since the onset of the pandemic has enabled permanent volume additions in the China trade lane, a transformed balance sheet, and significant share count reduction. MATX remains strategically positioned as a US Jones Act shipping operator and its expedited freight service continues to offer an attractive value proposition for its customers.”