Matson, Inc. (NYSE:MATX) Holdings Cut by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Matson, Inc. (NYSE:MATX – Get Rating) by 36.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,962 shares of the shipping company’s stock after selling 37,289 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Matson worth $4,175,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MATX. Quadrant Capital Group LLC grew its stake in Matson by 300.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 441 shares of the shipping company’s stock valued at $27,000 after buying an additional 331 shares during the last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in Matson in the 4th quarter worth $28,000. Ellevest Inc. grew its position in Matson by 124.9% in the 3rd quarter. Ellevest Inc. now owns 650 shares of the shipping company’s stock worth $40,000 after purchasing an additional 361 shares during the last quarter. Ronald Blue Trust Inc. grew its position in Matson by 115.9% in the 4th quarter. Ronald Blue Trust Inc. now owns 803 shares of the shipping company’s stock worth $49,000 after purchasing an additional 431 shares during the last quarter. Finally, First Manhattan Co. acquired a new stake in Matson in the 3rd quarter worth $61,000. Institutional investors and hedge funds own 83.55% of the company’s stock.

Insider Activity at Matson

In related news, VP Kevin L. Stuck sold 2,760 shares of Matson stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $67.48, for a total transaction of $186,244.80. Following the completion of the transaction, the vice president now directly owns 4,568 shares of the company’s stock, valued at approximately $308,248.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matson news, VP Kevin L. Stuck sold 2,760 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $67.48, for a total value of $186,244.80. Following the completion of the transaction, the vice president now directly owns 4,568 shares of the company’s stock, valued at $308,248.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark H. Fukunaga bought 1,573 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was bought at an average cost of $63.59 per share, with a total value of $100,027.07. Following the completion of the purchase, the director now owns 24,297 shares of the company’s stock, valued at approximately $1,545,046.23. The disclosure for this purchase can be found here. Insiders sold 26,941 shares of company stock valued at $1,764,803 in the last ninety days. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Matson in a report on Thursday. They set a “hold” rating for the company. Stifel Nicolaus reduced their price objective on shares of Matson from $73.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 20th. Finally, Stephens reduced their price objective on shares of Matson from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd.

Matson Price Performance

NYSE:MATX opened at $69.62 on Thursday. Matson, Inc. has a 52 week low of $56.51 and a 52 week high of $95.51. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 3.58 and a beta of 1.16. The company has a 50-day moving average of $62.76 and a 200-day moving average of $64.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.06.

Matson (NYSE:MATX – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The shipping company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. Matson had a net margin of 19.54% and a return on equity of 33.72%. The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $704.34 million. During the same period last year, the firm posted $8.23 EPS. The firm’s quarterly revenue was down 39.5% on a year-over-year basis. As a group, equities research analysts anticipate that Matson, Inc. will post 4.37 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, May 10th. Matson’s dividend payout ratio is currently 6.39%.

Matson Profile

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Matson, Inc is a holding company, which engages in the provision of logistics and transportation services. It operates through the Ocean Transportation and Logistics segments. The Ocean Transportation segment offers ocean freight transportation, container stevedoring, refrigerated cargo services, inland transportation, and other terminal services.