Matson, Inc. (NYSE:MATX) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 53.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,969 shares of the shipping company's stock after selling 4,524 shares during the quarter. M&T Bank Corp's holdings in Matson were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MATX. Crossmark Global Holdings Inc. grew its stake in shares of Matson by 16.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,787 shares of the shipping company's stock worth $397,000 after purchasing an additional 391 shares during the period. Natixis Advisors LLC grew its stake in shares of Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company's stock worth $2,313,000 after purchasing an additional 78 shares during the period. Quest Partners LLC grew its stake in Matson by 142.5% in the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company's stock valued at $1,476,000 after acquiring an additional 6,080 shares during the period. Caprock Group LLC grew its stake in Matson by 4.2% in the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company's stock valued at $326,000 after acquiring an additional 91 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Matson by 53.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,572 shares of the shipping company's stock valued at $367,000 after acquiring an additional 891 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other news, SVP Richard S. Kinney sold 1,997 shares of Matson 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 transaction, the senior vice president now owns 8,425 shares in the company, valued at $1,155,151.75. The trade was a 19.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the transaction, 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 position. The disclosure for this sale can be found here. 2.32% of the stock is currently owned by corporate insiders.

Matson Trading Down 1.9 %

Shares of MATX opened at $129.54 on Friday. Matson, Inc. has a 52-week low of $100.50 and a 52-week 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 firm's fifty day moving average is $139.09 and its two-hundred day moving average is $141.29. The stock has a market cap of $4.25 billion, a PE ratio of 10.78 and a beta of 1.05.

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

Matson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stephens lifted their price target on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wolfe Research cut shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus lifted their price target 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.

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.

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