National Bank of Canada FI Decreases Holdings in Matson, Inc. (NYSE:MATX)

National Bank of Canada FI lowered its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 67.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,235 shares of the shipping company's stock after selling 2,573 shares during the period. National Bank of Canada FI's holdings in Matson were worth $167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MATX. IFP Advisors Inc purchased a new position in Matson during the 4th quarter valued at approximately $40,000. U S Global Investors Inc. purchased a new position in shares of Matson in the fourth quarter valued at $111,000. Smartleaf Asset Management LLC grew its holdings in shares of Matson by 339.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company's stock valued at $122,000 after purchasing an additional 696 shares in the last quarter. Rothschild Investment LLC increased its position in Matson by 31.4% in the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company's stock worth $143,000 after purchasing an additional 253 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock valued at $166,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

MATX has been the subject of a number of recent research reports. Stephens lifted their price objective on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th.

Remove Ads

Matson Trading Down 2.3 %

Shares of Matson stock traded down $2.33 during trading on Tuesday, hitting $100.21. The stock had a trading volume of 215,817 shares, compared to its average volume of 296,112. The stock has a market cap of $3.29 billion, a PE ratio of 8.34 and a beta of 1.12. Matson, Inc. has a 12 month low of $98.84 and a 12 month high of $169.12. The firm's fifty day simple moving average is $130.16 and its 200-day simple moving average is $138.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

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

Matson Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP John P. Lauer sold 7,985 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares in the company, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 8,425 shares of the company's stock, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

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.