Matson, Inc. (NYSE:MATX) Shares Sold by Summit Global Investments

Summit Global Investments decreased its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,131 shares of the shipping company's stock after selling 4,294 shares during the quarter. Summit Global Investments' holdings in Matson were worth $827,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MATX. IFP Advisors Inc purchased a new stake in shares of Matson during the 4th quarter worth approximately $40,000. U S Global Investors Inc. purchased a new position in Matson during the 4th quarter worth $111,000. Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 696 shares during the period. Rothschild Investment LLC increased its stake in shares of Matson by 31.4% during the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company's stock worth $143,000 after acquiring an additional 253 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock worth $166,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MATX. Stifel Nicolaus lifted their price objective on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Stephens lifted their price target on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.

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Matson Price Performance

NYSE MATX traded up $0.90 during mid-day trading on Wednesday, hitting $133.07. The stock had a trading volume of 162,467 shares, compared to its average volume of 265,415. The company has a 50 day simple moving average of $137.38 and a 200 day simple moving average of $141.03. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 11.07 and a beta of 1.05. 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.

Matson (NYSE:MATX - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The firm 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 dividend 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%.

Insider Activity

In related news, SVP Richard S. Kinney sold 1,997 shares of the company'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 value of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the firm's 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 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 position. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

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.