Barclays PLC Cuts Stock Holdings in Matson, Inc. (NYSE:MATX)

Barclays PLC cut its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,782 shares of the shipping company's stock after selling 11,578 shares during the quarter. Barclays PLC owned 0.28% of Matson worth $12,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Matson by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock worth $40,927,000 after acquiring an additional 26,366 shares in the last quarter. Boston Partners increased its holdings in Matson by 5.0% during the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company's stock worth $24,707,000 after buying an additional 8,704 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Matson during the fourth quarter worth $4,328,000. Bryce Point Capital LLC acquired a new stake in Matson in the fourth quarter valued at $544,000. Finally, One Wealth Advisors LLC acquired a new stake in Matson in the fourth quarter valued at $258,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In related news, SVP Richard S. Kinney sold 1,997 shares of the business's 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 sale, the senior vice president now directly owns 8,425 shares in the company, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company's stock.

Matson Price Performance

Shares of MATX traded down $1.15 during trading hours on Friday, hitting $102.40. 279,592 shares of the company were exchanged, compared to its average volume of 303,623. The firm's fifty day moving average is $123.37 and its 200 day moving average is $136.71. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 8.50 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a fifty-two week low of $92.90 and a fifty-two week high of $169.12.

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

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.33%. Matson's payout ratio is currently 9.69%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MATX shares. Stifel Nicolaus raised their target price on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. Stephens boosted their target price on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th.

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.