Allspring Global Investments Holdings LLC Lowers Stock Holdings in Matson, Inc. (NYSE:MATX)

Allspring Global Investments Holdings LLC reduced its holdings in Matson, Inc. (NYSE:MATX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,089 shares of the shipping company’s stock after selling 1,472 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Matson were worth $7,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Matson in the 4th quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in Matson during the third quarter valued at about $27,000. Blue Trust Inc. increased its stake in Matson by 109.6% during the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after acquiring an additional 217 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Matson in the 4th quarter worth about $53,000. Finally, U S Global Investors Inc. purchased a new position in shares of Matson in the 3rd quarter worth about $78,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MATX. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their price objective on shares of Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st.

Matson Price Performance

Shares of NYSE MATX opened at $106.04 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 1.07. Matson, Inc. has a 1-year low of $61.51 and a 1-year high of $122.99. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 12.65 and a beta of 1.12. The business has a 50-day moving average of $111.31 and a 200-day moving average of $104.48.

Matson (NYSE:MATX) last announced its earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The business had revenue of $788.90 million during the quarter, compared to the consensus estimate of $733.60 million. Matson had a net margin of 9.60% and a return on equity of 12.71%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. On average, equities analysts anticipate that Matson, Inc. will post 8.2 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. Matson’s dividend payout ratio is presently 15.27%.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.32% of the company’s stock.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.