Handelsbanken Fonder AB Sells 200 Shares of Matson, Inc. (NYSE:MATX)

Handelsbanken Fonder AB lessened its position in shares of Matson, Inc. (NYSE:MATX) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,000 shares of the shipping company’s stock after selling 200 shares during the period. Handelsbanken Fonder AB’s holdings in Matson were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Preferred LLC bought a new position in Matson during the fourth quarter worth about $1,958,000. O Shaughnessy Asset Management LLC raised its position in shares of Matson by 105.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock valued at $3,316,000 after buying an additional 19,149 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in shares of Matson by 317.4% in the third quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock valued at $2,197,000 after buying an additional 18,830 shares during the period. Envestnet Asset Management Inc. grew its position in Matson by 25.4% during the third quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock worth $5,381,000 after buying an additional 12,285 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Matson by 178.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company’s stock worth $826,000 after acquiring an additional 5,973 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares in the company, valued at $1,397,261.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MATX shares. Stifel Nicolaus upped their target price on Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Saturday, April 20th.

Matson Stock Up 1.0 %

NYSE MATX opened at $110.00 on Tuesday. Matson, Inc. has a fifty-two week low of $62.71 and a fifty-two week high of $122.99. The business has a fifty day moving average price of $109.24 and a two-hundred day moving average price of $105.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $3.79 billion, a PE ratio of 13.13 and a beta of 1.12.

Matson (NYSE:MATX) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. Matson’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. Equities analysts expect that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is presently 15.27%.

Matson 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.