Matson, Inc. (NYSE:MATX) Position Decreased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP reduced its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 70.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,447 shares of the shipping company's stock after selling 10,840 shares during the period. Brevan Howard Capital Management LP's holdings in Matson were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management raised its position in Matson by 17.8% in the 4th quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company's stock valued at $2,183,000 after purchasing an additional 2,448 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Matson in the 4th quarter valued at about $9,788,000. Nisa Investment Advisors LLC boosted its stake in shares of Matson by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock valued at $2,244,000 after buying an additional 80 shares during the period. Paradiem LLC boosted its stake in shares of Matson by 2.2% in the 4th quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock valued at $12,140,000 after buying an additional 1,909 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Matson by 2.9% in the 4th 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 during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Stock Performance

Shares of NYSE:MATX traded up $3.70 during trading on Tuesday, reaching $117.64. The company had a trading volume of 1,132,309 shares, compared to its average volume of 333,261. The stock's fifty day moving average price is $114.42 and its 200 day moving average price is $134.23. 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 capitalization of $3.84 billion, a price-to-earnings ratio of 9.79 and a beta of 1.30. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. As a group, equities research analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.16%. Matson's dividend payout ratio (DPR) is currently 8.96%.

Wall Street Analyst Weigh In

MATX has been the subject of several recent research reports. Stifel Nicolaus decreased their price objective on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group lifted their price objective on Matson from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday. StockNews.com lowered Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Stephens cut their target price on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Matson presently has an average rating of "Hold" and an average target price of $138.33.

Insider Activity

In related news, SVP Richard S. Kinney sold 1,997 shares of the firm'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 trade represents a 19.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total value of $200,923.00. Following the completion of the sale, the senior vice president now directly owns 14,712 shares in the company, valued at approximately $1,738,811.28. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,682 shares of company stock worth $1,550,551. 2.05% of the stock is currently owned by corporate insiders.

About Matson

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.