Artemis Investment Management LLP Trims Stake in Matson, Inc. (NYSE:MATX)

Artemis Investment Management LLP cut its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 45.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,297 shares of the shipping company's stock after selling 42,576 shares during the period. Artemis Investment Management LLP owned 0.15% of Matson worth $6,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MATX. Pacer Advisors Inc. increased its stake in shares of Matson by 4,167,726.1% in the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company's stock worth $136,716,000 after purchasing an additional 958,577 shares in the last quarter. Millennium Management LLC grew its position in shares of Matson by 126.5% during the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company's stock worth $31,448,000 after purchasing an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC grew its position in shares of Matson by 52.1% during the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company's stock worth $46,680,000 after purchasing an additional 122,017 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Matson in the 4th quarter worth approximately $9,788,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Matson in the 3rd quarter worth approximately $6,735,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

MATX has been the topic of several recent analyst reports. Stephens reiterated an "overweight" rating and set a $165.00 price objective on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research downgraded shares of Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th.

Matson Price Performance

NYSE:MATX traded down $3.80 during trading hours on Monday, reaching $137.48. The stock had a trading volume of 266,512 shares, compared to its average volume of 203,279. 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 market capitalization of $4.57 billion, a PE ratio of 11.44 and a beta of 1.07. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The company has a 50 day moving average price of $146.48 and a two-hundred day moving average price of $138.87.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 EPS. As a group, sell-side analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 7th. Matson's dividend payout ratio (DPR) is 11.31%.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 492 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the transaction, the senior vice president now owns 4,254 shares in the company, valued at $686,000.04. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,646 shares of company stock worth $1,578,768. 2.32% of the stock is currently owned by company 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.