Matson, Inc. (NYSE:MATX) Stock Position Cut by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of Matson, Inc. (NYSE:MATX) by 9.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,525 shares of the shipping company’s stock after selling 2,341 shares during the period. M&T Bank Corp’s holdings in Matson were worth $2,359,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MATX. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Matson in the 4th quarter worth $26,000. Blue Trust Inc. grew its holdings 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 period. GAMMA Investing LLC acquired a new stake in Matson in the 4th quarter valued at about $89,000. U S Global Investors Inc. boosted its position in shares of Matson by 13.4% during the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 118 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Matson in the 4th quarter worth approximately $112,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MATX has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a research report on Thursday.

Matson Stock Up 0.1 %

Shares of NYSE:MATX opened at $111.83 on Thursday. The firm has a 50 day simple moving average of $108.76 and a 200 day simple moving average of $106.59. Matson, Inc. has a 52 week low of $64.21 and a 52 week high of $122.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $3.82 billion, a PE ratio of 13.19 and a beta of 1.12.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts expect that Matson, Inc. will post 8.51 earnings per share for the current year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 annualized dividend and a yield of 1.14%. Matson’s dividend payout ratio (DPR) is presently 15.09%.

Insider Activity

In related 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 transaction of $126,268.93. Following the completion of the sale, the senior vice president now directly owns 12,958 shares in the company, valued at $1,397,261.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Matson news, SVP Leonard P. Isotoff sold 2,800 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the transaction, the senior vice president now directly owns 4,746 shares of the company’s stock, valued at approximately $533,830.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction dated 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 of the company’s stock, valued at $1,397,261.14. The disclosure for this sale can be found here. 2.32% of the stock is owned by corporate insiders.

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.