Allspring Global Investments Holdings LLC Lowers Stock Holdings in Matson, Inc. (NYSE:MATX)

Allspring Global Investments Holdings LLC decreased its position in Matson, Inc. (NYSE:MATX - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,037 shares of the shipping company's stock after selling 10,067 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of Matson worth $7,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Matson during the 3rd quarter valued at about $50,000. DekaBank Deutsche Girozentrale acquired a new stake in Matson in the 3rd quarter worth about $92,000. Farther Finance Advisors LLC boosted its holdings in shares of Matson by 1,661.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company's stock worth $156,000 after purchasing an additional 1,030 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Matson by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock worth $166,000 after purchasing an additional 133 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Matson by 80.4% during the 3rd quarter. CWM LLC now owns 1,198 shares of the shipping company's stock worth $171,000 after purchasing an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Price Performance

Shares of MATX stock traded up $0.17 during midday trading on Friday, reaching $142.99. 397,843 shares of the company traded hands, compared to its average volume of 262,942. The firm's 50 day simple moving average is $139.56 and its two-hundred day simple moving average is $140.64. Matson, Inc. has a 1-year low of $100.50 and a 1-year high of $169.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.75 billion, a PE ratio of 11.90 and a beta of 1.05.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 0.95%. Matson's dividend payout ratio is currently 11.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MATX shares. Stephens reiterated an "overweight" rating and issued a $165.00 price objective on shares of Matson in a report on Thursday, January 2nd. Wolfe Research cut Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th.

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.