Cerity Partners LLC Has $353,000 Stock Holdings in Matson, Inc. (NYSE:MATX)

Cerity Partners LLC reduced its stake in shares of Matson, Inc. (NYSE:MATX) by 23.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,520 shares of the shipping company’s stock after selling 784 shares during the period. Cerity Partners LLC’s holdings in Matson were worth $353,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Matson by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company’s stock valued at $542,759,000 after purchasing an additional 11,357 shares during the last quarter. American Century Companies Inc. grew its position in Matson by 10.9% in the fourth quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company’s stock valued at $146,562,000 after purchasing an additional 106,490 shares in the last quarter. Pacer Advisors Inc. increased its stake in Matson by 9.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company’s stock valued at $141,551,000 after buying an additional 91,172 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Matson by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock worth $43,570,000 after buying an additional 36,156 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Matson during the 4th quarter worth about $35,016,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Stephens upped their price objective on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Matson Stock Up 1.8 %

MATX opened at $96.25 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average of $125.14 and a 200-day moving average of $137.17. Matson, Inc. has a fifty-two week low of $92.90 and a fifty-two week high of $169.12. The company has a market capitalization of $3.16 billion, a P/E ratio of 8.01 and a beta of 1.12.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. On average, equities analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. Matson’s payout ratio is currently 9.69%.

Insider Activity at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, the executive vice president now directly owns 25,192 shares in the company, valued at approximately $3,394,118.16. This represents a 24.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by insiders.

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.