Royce & Associates LP Has $260,000 Stock Holdings in Matson, Inc. (NYSE:MATX)

Royce & Associates LP cut its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 59.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,929 shares of the shipping company's stock after selling 2,867 shares during the period. Royce & Associates LP's holdings in Matson were worth $260,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MATX. Natixis Advisors LLC grew its stake in Matson by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 16,434 shares of the shipping company's stock worth $2,216,000 after buying an additional 217 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Matson by 1.4% during the fourth quarter. HighTower Advisors LLC now owns 25,572 shares of the shipping company's stock valued at $3,448,000 after acquiring an additional 343 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Matson during the fourth quarter worth about $2,603,000. Johnson Investment Counsel Inc. increased its holdings in shares of Matson by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock worth $238,000 after acquiring an additional 76 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Matson by 27.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,300 shares of the shipping company's stock valued at $310,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

In other news, SVP Richard S. Kinney sold 1,997 shares of the business's 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 sale, the senior vice president now directly owns 8,425 shares of the company's stock, valued at $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated 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 completion of the transaction, 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.

Remove Ads

Matson Price Performance

Shares of NYSE MATX traded up $0.90 during mid-day trading on Wednesday, reaching $133.07. 162,467 shares of the company traded hands, compared to its average volume of 265,229. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The firm has a market cap of $4.37 billion, a PE ratio of 11.07 and a beta of 1.05. The stock has a fifty day simple moving average of $137.56 and a 200-day simple moving average of $141.09. 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 issued its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. Equities research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were given a $0.34 dividend. 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 (DPR) is presently 9.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stephens raised 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. Stifel Nicolaus increased their price objective on Matson from $150.00 to $160.00 and gave the stock a "hold" 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.