QRG Capital Management Inc. Decreases Stock Position in Matson, Inc. (NYSE:MATX)

QRG Capital Management Inc. cut its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 37.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,361 shares of the shipping company's stock after selling 2,013 shares during the period. QRG Capital Management Inc.'s holdings in Matson were worth $453,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Matson by 9.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock valued at $141,551,000 after purchasing an additional 91,172 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Matson by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company's stock valued at $56,437,000 after purchasing an additional 20,568 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Matson by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock valued at $40,927,000 after purchasing an additional 26,366 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Matson by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 180,956 shares of the shipping company's stock valued at $24,400,000 after purchasing an additional 4,945 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Matson by 1.5% in the fourth quarter. Rhumbline Advisers now owns 103,398 shares of the shipping company's stock valued at $13,942,000 after purchasing an additional 1,518 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

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Insider Activity at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the sale, the executive vice president now owns 25,192 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, 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 disclosure for this sale can be found here. 2.32% of the stock is owned by corporate insiders.

Matson Stock Performance

Shares of Matson stock traded down $0.22 during trading hours on Friday, reaching $133.02. The company had a trading volume of 383,471 shares, compared to its average volume of 293,043. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The business has a fifty day simple moving average of $139.50 and a 200 day simple moving average of $141.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.37 billion, a PE ratio of 11.07 and a beta of 1.05.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.60. The company had revenue of $890.30 million during 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 anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, February 6th. Matson's dividend payout ratio is 9.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. Stifel Nicolaus raised their price target on Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Finally, Stephens raised their price target on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report 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.