Bank of New York Mellon Corp Reduces Position in Matson, Inc. (NYSE:MATX)

Bank of New York Mellon Corp reduced its position in Matson, Inc. (NYSE:MATX - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,457 shares of the shipping company's stock after selling 42,326 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Matson worth $38,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MATX. Rothschild Investment LLC lifted its position in shares of Matson by 31.4% in the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company's stock valued at $143,000 after acquiring an additional 253 shares in the last quarter. IFP Advisors Inc purchased a new position in Matson in the 4th quarter worth approximately $40,000. Y Intercept Hong Kong Ltd boosted its stake in Matson by 127.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 12,182 shares of the shipping company's stock worth $1,643,000 after purchasing an additional 6,827 shares during the period. Navellier & Associates Inc. grew its holdings in Matson by 10.3% during the 4th quarter. Navellier & Associates Inc. now owns 2,401 shares of the shipping company's stock valued at $324,000 after buying an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Matson during the fourth quarter valued at approximately $253,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the stock in a transaction 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 sale, the executive vice president now owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.32% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. Stephens increased their price target on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Wolfe Research cut shares of Matson from an "outperform" rating to a "peer perform" rating in a research report on Monday, November 18th.

Matson Trading Down 3.0 %

MATX traded down $4.00 on Monday, hitting $129.43. The company had a trading volume of 317,100 shares, compared to its average volume of 293,576. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $139.50 and its 200 day simple moving average is $141.49. The company has a market cap of $4.25 billion, a PE ratio of 10.77 and a beta of 1.05.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. Equities research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.05%. Matson's dividend payout ratio is currently 9.69%.

Matson 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.