Summit Global Investments Cuts Position in Matson, Inc. (NYSE:MATX)

Summit Global Investments trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,131 shares of the shipping company’s stock after selling 4,294 shares during the period. Summit Global Investments’ holdings in Matson were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Johnson Investment Counsel Inc. lifted its holdings in shares of Matson by 4.5% during the 4th quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company’s stock valued at $238,000 after acquiring an additional 76 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Matson by 0.5% during the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock worth $2,244,000 after buying an additional 80 shares during the period. Inspire Investing LLC grew its stake in shares of Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after buying an additional 85 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Matson by 4.2% during the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after buying an additional 91 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MATX shares. Stephens increased their price objective on shares of Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price target on shares of Matson from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, February 26th.

Insider Transactions at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John P. Lauer sold 7,985 shares of the stock in a transaction on 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 2.05% of the company’s stock.

Matson Price Performance

Shares of NYSE MATX opened at $128.95 on Monday. 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, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The business has a 50 day moving average price of $137.90 and a two-hundred day moving average price of $141.03. The firm has a market cap of $4.23 billion, a PE ratio of 10.73 and a beta of 1.05.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.60. The business had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. Sell-side analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.05%. Matson’s dividend payout ratio (DPR) is presently 9.69%.

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.