5 Oil Tanker Stocks That Pay Dividends

3. Matson, Inc. (NYSE:MATX)

Number of Hedge Fund Holders: 19  

Forward Dividend Yield: 1.29%

Matson, Inc. (NYSE:MATX) provides transportation and logistics services. The company has a stellar dividend history with 32 years of consecutive payouts and 9 years of consistent growth in the dividend space. In late January, the firm declared a quarterly dividend of $0.30 per share, in line with previous. In the fourth quarter of 2021, the firm also beat market estimates on earnings per share and revenue by $2.58 and $190 million. The company is one of the premier transport service providers in Hawaii, Alaska, and Guam. 

On March 14, Stifel analyst Benjamin Nolan kept a Buy rating on Matson, Inc. (NYSE:MATX) stock and raised the price target to $131 from $98, underlining that “shifting equipment around should give the company a major boost in China and greater run rate volumes”.

At the end of the fourth quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $40 million in Matson, Inc. (NYSE:MATX), compared to 13 in the preceding quarter worth $20 million. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm AltraVue Capital is a leading shareholder in Matson, Inc. (NYSE:MATX) with 840,895 shares worth more than $21 million.