Matson, Inc. (NYSE:MATX) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP decreased its stake in Matson, Inc. (NYSE:MATX - Free Report) by 62.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,105 shares of the shipping company's stock after selling 31,192 shares during the quarter. Artemis Investment Management LLP owned approximately 0.06% of Matson worth $2,449,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Matson in the fourth quarter valued at about $30,000. Ameriflex Group Inc. acquired a new position in Matson during the fourth quarter worth about $36,000. IFP Advisors Inc acquired a new position in Matson during the fourth quarter worth about $40,000. Finally, Covestor Ltd boosted its position in Matson by 16.3% during 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. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at Matson

In other Matson news, SVP Laura L. Rascon sold 1,700 shares of Matson stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,712 shares of the company's stock, valued at $1,738,811.28. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradley D. Tilden acquired 2,752 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the transaction, the director now directly owns 8,180 shares of the company's stock, valued at approximately $914,196.80. This trade represents a 50.70% increase in their position. The disclosure for this purchase can be found here. 2.05% of the stock is currently owned by corporate insiders.

Matson Trading Up 3.1%

Shares of MATX stock traded up $3.33 during trading on Friday, hitting $112.00. 587,224 shares of the stock traded hands, compared to its average volume of 347,171. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm's fifty day moving average price is $109.56 and its 200-day moving average price is $124.58. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The firm has a market capitalization of $3.66 billion, a P/E ratio of 7.38 and a beta of 1.31.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 20.02% and a net margin of 14.72%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. During the same quarter last year, the company earned $1.04 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th will be given a $0.36 dividend. This is an increase from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, August 7th. Matson's payout ratio is currently 8.96%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MATX. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens lowered their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $135.00 price target on shares of Matson in a research report on Wednesday, June 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $138.33.

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.