Farther Finance Advisors LLC Sells 541 Shares of Matson, Inc. (NYSE:MATX)

Farther Finance Advisors LLC trimmed its holdings in Matson, Inc. (NYSE:MATX) by 46.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615 shares of the shipping company’s stock after selling 541 shares during the quarter. Farther Finance Advisors LLC’s holdings in Matson were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Matson by 12.6% in the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock worth $43,570,000 after acquiring an additional 36,156 shares in the last quarter. Boston Partners increased its stake in shares of Matson by 5.0% in the 4th quarter. Boston Partners now owns 182,570 shares of the shipping company’s stock worth $24,707,000 after acquiring an additional 8,704 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Matson in the 4th quarter worth about $4,328,000. Ameriprise Financial Inc. increased its stake in shares of Matson by 73.9% in the 4th quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock worth $56,157,000 after acquiring an additional 177,000 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of Matson in the 4th quarter worth about $544,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total value of $55,735.00. Following the transaction, the senior vice president now owns 5,644 shares in the company, valued at $629,136.68. This represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley D. Tilden acquired 2,752 shares of the stock in a transaction dated Thursday, May 29th. The stock was acquired at an average price of $111.76 per share, for a total transaction of $307,563.52. Following the purchase, the director now directly owns 8,180 shares in the company, valued at approximately $914,196.80. This trade represents a 50.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.05% of the company’s stock.

Matson Stock Performance

Shares of NYSE MATX opened at $109.74 on Monday. The firm’s 50-day moving average price is $108.48 and its 200-day moving average price is $125.69. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.58 billion, a PE ratio of 7.23 and a beta of 1.31. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.16). The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $818.07 million. Matson had a net margin of 14.72% and a return on equity of 20.02%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. As a group, analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, May 8th. Matson’s payout ratio is presently 8.96%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MATX shares. Stephens cut their price objective on shares of Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a $135.00 price objective on shares of Matson in a research report on Wednesday, June 11th. Finally, Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Matson presently has an average rating of “Hold” and an average target price of $138.33.

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.