Matson, Inc. (NYSE:MATX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Matson, Inc. (NYSE:MATX - Free Report) by 48.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,121 shares of the shipping company's stock after selling 81,358 shares during the quarter. Bank of America Corp DE owned approximately 0.27% of Matson worth $11,882,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Matson by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock valued at $542,759,000 after purchasing an additional 11,357 shares in the last quarter. American Century Companies Inc. raised its position in shares of Matson by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company's stock valued at $146,562,000 after purchasing an additional 106,490 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Matson by 9.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock worth $141,551,000 after buying an additional 91,172 shares during the period. Capital Research Global Investors lifted its holdings in shares of Matson by 8.3% during the fourth quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock worth $101,590,000 after purchasing an additional 58,027 shares during the period. Finally, First Trust Advisors LP lifted its stake in Matson by 21.5% during the 4th quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock valued at $89,432,000 after acquiring an additional 117,545 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Trading Down 0.5%

NYSE:MATX traded down $0.56 during trading hours on Wednesday, reaching $111.16. 37,865 shares of the stock were exchanged, compared to its average volume of 340,060. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $110.77 and a two-hundred day moving average of $131.44. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.28 and a beta of 1.30.

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

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.22%. Matson's dividend payout ratio (DPR) is 8.96%.

Insider Buying and Selling

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction 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 directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction dated Tuesday, May 13th. The shares were 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 owns 14,712 shares in the company, valued at approximately $1,738,811.28. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,682 shares of company stock worth $1,550,551 over the last 90 days. 2.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stephens lowered their price objective on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Jefferies Financial Group lifted their price objective on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Stifel Nicolaus decreased their target price on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.