Allspring Global Investments Holdings LLC Increases Holdings in Matson, Inc. $MATX

Key Points

• Allspring Global Investments boosted its stake in Matson by 97.5% in Q4 to 79,767 shares, representing a 0.26% ownership position worth about $9.87 million.
• Matson beat earnings expectations, reporting Q4 EPS of $4.60 vs. $3.69 expected and revenue of $851.9M (vs. $847.3M), though revenue was down 4.3% year‑over‑year.
• Insider selling has been notable—executives sold 15,000 shares on March 3 (13,000 by EVP Peter Heilmann and 2,000 by SVP Kuuhaku T. Park) and insiders sold 42,550 shares worth about $7.03M over the last 90 days, while institutional investors own 84.76% of the stock.

Allspring Global Investments Holdings LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 97.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,767 shares of the shipping company's stock after buying an additional 39,370 shares during the period. Allspring Global Investments Holdings LLC owned 0.26% of Matson worth $9,868,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Matson in the 2nd quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Matson in the 3rd quarter valued at approximately $30,000. Ameriflex Group Inc. increased its holdings in shares of Matson by 100.8% during the 3rd quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company's stock worth $50,000 after buying an additional 256 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Matson by 482.8% during the 3rd quarter. State of Wyoming now owns 542 shares of the shipping company's stock worth $53,000 after buying an additional 449 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Matson news, EVP Peter T. Heilmann sold 13,000 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the transaction, the executive vice president directly owned 32,679 shares of the company's stock, valued at approximately $5,407,067.34. This trade represents a 28.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kuuhaku T. Park sold 2,000 shares of Matson stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $169.79, for a total transaction of $339,580.00. Following the completion of the transaction, the senior vice president owned 13,484 shares in the company, valued at approximately $2,289,448.36. This represents a 12.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,550 shares of company stock worth $7,034,602 over the last 90 days. 2.51% of the stock is owned by corporate insiders.

Matson Stock Up 0.2%

MATX opened at $166.77 on Monday. Matson, Inc. has a one year low of $86.97 and a one year high of $177.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $5.07 billion, a P/E ratio of 11.96 and a beta of 1.33. The business's 50-day simple moving average is $161.39 and its 200-day simple moving average is $129.97.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.91. The firm had revenue of $851.90 million during the quarter, compared to analysts' expectations of $847.30 million. Matson had a return on equity of 16.63% and a net margin of 13.30%.The business's revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.80 EPS. Analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 5th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson's dividend payout ratio is currently 10.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MATX shares. Wolfe Research reaffirmed an "outperform" rating and issued a $167.00 price target on shares of Matson in a research note on Thursday, January 8th. Stephens raised their price objective on Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Matson in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $156.25.

About Matson

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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