Fmr LLC Sells 218,452 Shares of Matson, Inc. (NYSE:MATX)

FMR LLC lessened its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 72.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,157 shares of the shipping company's stock after selling 218,452 shares during the quarter. FMR LLC owned 0.24% of Matson worth $11,575,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in Matson in the second quarter valued at about $27,000. Redwood Wealth Management Group LLC acquired a new position in Matson in the second quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in Matson in the second quarter valued at about $39,000. Harbor Capital Advisors Inc. acquired a new position in Matson in the third quarter valued at about $50,000. Finally, Blue Trust Inc. raised its stake in Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company's stock valued at $78,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

MATX has been the subject of a number of analyst reports. StockNews.com downgraded Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th. Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 492 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total value of $79,339.92. Following the sale, the senior vice president now directly owns 4,254 shares in the company, valued at $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,145 shares of company stock worth $2,513,455. Insiders own 2.32% of the company's stock.

Matson Price Performance

NYSE MATX traded up $2.12 during trading on Thursday, hitting $145.90. 203,925 shares of the company's stock were exchanged, compared to its average volume of 272,477. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.85 billion, a PE ratio of 11.96 and a beta of 1.04. Matson, Inc. has a fifty-two week low of $94.58 and a fifty-two week high of $169.12. The stock's 50 day moving average price is $147.51 and its two-hundred day moving average price is $135.99.

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

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, November 7th. Matson's dividend payout ratio (DPR) is currently 11.31%.

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.