Matson, Inc. (NYSE:MATX) Shares Sold by Man Group plc

Man Group plc trimmed its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,272 shares of the shipping company's stock after selling 23,091 shares during the period. Man Group plc owned 0.06% of Matson worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Matson during the 4th quarter worth approximately $30,000. IFP Advisors Inc purchased a new stake in Matson in the 4th quarter valued at approximately $40,000. Covestor Ltd grew its holdings in Matson by 16.3% during the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after buying an additional 82 shares during the last quarter. Finally, U S Global Investors Inc. purchased a new position in Matson during the fourth quarter worth $111,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Laura L. Rascon sold 1,700 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total transaction of $200,923.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. The trade was a 24.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,682 shares of company stock valued at $1,550,551 in the last ninety days. Company insiders own 2.05% of the company's stock.

Matson Trading Up 0.0%

Matson stock traded up $0.06 during trading on Wednesday, hitting $111.78. The company's stock had a trading volume of 55,480 shares, compared to its average volume of 340,132. The stock's fifty day moving average is $110.77 and its 200 day moving average is $131.44. Matson, Inc. has a 1-year low of $91.75 and a 1-year high of $169.12. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 9.30 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. During the same period in the prior year, the company earned $1.04 EPS. The company's revenue was up 8.3% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. Matson's dividend payout ratio (DPR) is presently 8.96%.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Stephens cut their target price on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Stifel Nicolaus cut their price objective 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $138.33.

Matson Company 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.