Prudential Financial Inc. Has $15.27 Million Position in Matson, Inc. (NYSE:MATX)

Prudential Financial Inc. lifted its stake in Matson, Inc. (NYSE:MATX - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,244 shares of the shipping company's stock after purchasing an additional 12,915 shares during the period. Prudential Financial Inc. owned 0.34% of Matson worth $15,270,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its holdings in Matson by 53.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,572 shares of the shipping company's stock worth $367,000 after purchasing an additional 891 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Matson by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company's stock worth $56,437,000 after buying an additional 20,568 shares during the period. Cerity Partners LLC raised its stake in shares of Matson by 26.1% during the third quarter. Cerity Partners LLC now owns 3,304 shares of the shipping company's stock worth $471,000 after buying an additional 684 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Matson by 200.0% in the third quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the shipping company's stock valued at $257,000 after buying an additional 1,200 shares during the period. Finally, Hancock Whitney Corp bought a new position in Matson in the third quarter valued at approximately $211,000. Institutional investors own 84.76% of the company's stock.

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Insider Buying and Selling

In related news, SVP Richard S. Kinney sold 1,997 shares of the company's 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 completion of the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John P. Lauer sold 7,985 shares of Matson 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 completion of the sale, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by company insiders.

Matson Trading Up 2.3 %

NYSE:MATX traded up $2.94 during trading hours on Tuesday, hitting $131.11. The stock had a trading volume of 286,187 shares, compared to its average volume of 283,886. The business's 50 day moving average is $136.63 and its 200-day moving average is $141.16. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 10.91 and a beta of 1.05. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping 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 business had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. Sell-side analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were given 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 1.04%. Matson's dividend payout ratio is presently 9.69%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. Stephens increased their target price on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.

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.