New York Life Investment Management LLC Sells 124 Shares of Matson, Inc. (NYSE:MATX)

New York Life Investment Management LLC lowered its holdings in Matson, Inc. (NYSE:MATX) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,833 shares of the shipping company’s stock after selling 124 shares during the quarter. New York Life Investment Management LLC’s holdings in Matson were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SummerHaven Investment Management LLC boosted its stake in shares of Matson by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock valued at $1,028,000 after buying an additional 108 shares during the period. U S Global Investors Inc. grew its stake in Matson by 13.4% during the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after buying an additional 118 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Matson by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock valued at $862,000 after buying an additional 128 shares in the last quarter. Check Capital Management Inc. CA lifted its holdings in shares of Matson by 4.6% during the 4th quarter. Check Capital Management Inc. CA now owns 3,720 shares of the shipping company’s stock worth $408,000 after acquiring an additional 165 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Matson by 6.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Trading Up 0.1 %

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

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

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, May 8th. Matson’s payout ratio is 15.09%.

Analysts Set New Price Targets

MATX has been the topic of several recent analyst reports. StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

Insider Buying and Selling at Matson

In other news, SVP Leonard P. Isotoff sold 2,800 shares of the firm’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 completion of the sale, the senior vice president now directly owns 4,746 shares in the company, valued at approximately $533,830.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the company’s stock in a transaction 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 transaction, the senior vice president now 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 this link. Also, SVP Leonard P. Isotoff sold 2,800 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $112.48, for a total transaction of $314,944.00. Following the sale, the senior vice president now directly owns 4,746 shares of the company’s stock, valued at $533,830.08. The disclosure for this sale can be found here. Insiders own 2.32% of the company’s stock.

About Matson

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.