Primecap Management Co. CA Trims Holdings in Matson, Inc. (NYSE:MATX)

Primecap Management Co. CA trimmed its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,900 shares of the shipping company's stock after selling 21,650 shares during the quarter. Primecap Management Co. CA owned approximately 0.11% of Matson worth $5,110,000 at the end of the most recent quarter.

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

Matson Stock Up 2.2 %

Shares of NYSE MATX traded up $2.85 during mid-day trading on Monday, reaching $132.08. 303,616 shares of the company were exchanged, compared to its average volume of 265,459. The firm has a 50-day moving average of $137.90 and a 200 day moving average of $141.03. Matson, Inc. has a 1 year low of $100.50 and a 1 year 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 stock has a market cap of $4.34 billion, a price-to-earnings ratio of 10.99 and a beta of 1.05.

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Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. The business had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. On average, research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, February 6th. Matson's dividend payout ratio is currently 9.69%.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were 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. This represents a 19.16 % 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, 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 completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Analysts Set New Price Targets

MATX has been the subject of a number of research reports. Stephens upped 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 increased their price objective 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.