Comerica Bank Purchases 2,944 Shares of Matson, Inc. (NYSE:MATX)

Comerica Bank lifted its position in Matson, Inc. (NYSE:MATX - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,570 shares of the shipping company's stock after acquiring an additional 2,944 shares during the quarter. Comerica Bank owned approximately 0.06% of Matson worth $2,774,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MATX. Bessemer Group Inc. boosted its holdings in shares of Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Matson during the 4th quarter valued at $30,000. IFP Advisors Inc purchased a new position in shares of Matson during the 4th quarter valued at $40,000. Covestor Ltd increased its stake in shares of Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after acquiring an additional 82 shares during the last quarter. Finally, U S Global Investors Inc. purchased a new stake in shares of Matson during the fourth quarter worth $111,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the business's 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Matson Stock Performance

MATX traded down $3.07 on Friday, hitting $96.19. The company had a trading volume of 606,620 shares, compared to its average volume of 324,132. 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 company's fifty day moving average price is $114.90 and its 200 day moving average price is $134.35. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 8.00 and a beta of 1.30. Matson, Inc. has a 1-year low of $91.75 and a 1-year high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. Equities analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. Matson's dividend payout ratio (DPR) is presently 8.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group restated a "buy" rating and issued a $125.00 target price on shares of Matson in a research note on Tuesday, May 6th. StockNews.com downgraded Matson from a "buy" rating to a "hold" rating in a report on Wednesday. Stifel Nicolaus decreased their target price on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Stephens dropped their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $135.00.

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.