Geode Capital Management LLC Sells 21,999 Shares of Matson, Inc. (NYSE:MATX)

Geode Capital Management LLC lowered its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,021 shares of the shipping company's stock after selling 21,999 shares during the quarter. Geode Capital Management LLC owned 2.29% of Matson worth $102,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quantinno Capital Management LP boosted its stake in shares of Matson by 16.5% during the 3rd quarter. Quantinno Capital Management LP now owns 4,509 shares of the shipping company's stock worth $643,000 after acquiring an additional 639 shares in the last quarter. MML Investors Services LLC purchased a new stake in Matson during the third quarter valued at about $249,000. Y Intercept Hong Kong Ltd increased its position in shares of Matson by 205.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 5,355 shares of the shipping company's stock worth $764,000 after acquiring an additional 3,600 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Matson during the third quarter valued at approximately $5,746,000. Finally, Hohimer Wealth Management LLC acquired a new position in Matson in the 3rd quarter worth approximately $278,000. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at Matson

In related news, 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 of the company's stock, valued at $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

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Matson Stock Down 0.5 %

NYSE MATX traded down $0.48 on Tuesday, reaching $102.06. The stock had a trading volume of 61,123 shares, compared to its average volume of 295,452. Matson, Inc. has a 1 year low of $98.84 and a 1 year high of $169.12. The business has a 50 day moving average price of $130.16 and a 200 day moving average price of $138.92. 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 capitalization of $3.35 billion, a price-to-earnings ratio of 8.49 and a beta of 1.12.

Matson (NYSE:MATX - Get Free Report) last posted 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. The company had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. On average, analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.33%. Matson's payout ratio is 9.69%.

Wall Street Analysts Forecast Growth

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