Investment giant Vanguard has bumped its stake of Matson up over 10%.
The Pennsylvania-based company bought 355,384 shares of the Hawaiian shipowner, according to Securities and Exchange Commission filings, bringing the total owned to 4.3 million.
Previously, Vangaurd held 3.95 million shares. The company now owns 10.09%, up from 9.31%.
Among other shipping stocks, Vanguard also owns 22.3 million shares in Norwegian Cruise Lines and 4.7 million shares in Kirby.
After the close Thursday, Matson shares were down 0.44% to $33.56.
In the third quarter, the company posted $41.6m profits thanks to premiums on its shipping lines, despite declines in container volume.
The company said it had confidence the good news would continue into the fourth quarter and revised its expectations upward.
