Matson, Inc. (NYSE:MATX) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has decreased its stake in Matson, Inc. by 2.8%, now holding 381,706 shares valued at approximately $48.9 million.
• Matson recently declared a quarterly dividend of $0.36 per share, representing an annualized yield of 1.4%, up from the previous $0.34.
• Despite a year-over-year revenue decline of 2.0%, Matson reported better-than-expected earnings of $2.92 EPS for its latest quarter, surpassing the consensus estimate by $0.74.

Charles Schwab Investment Management Inc. lowered its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 381,706 shares of the shipping company's stock after selling 11,190 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.16% of Matson worth $48,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Matson by 67.7% during the 4th 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. Hohimer Wealth Management LLC raised its position in shares of Matson by 5.2% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock worth $281,000 after purchasing an additional 109 shares during the period. Xponance Inc. raised its position in shares of Matson by 4.3% during the 1st quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock worth $355,000 after purchasing an additional 113 shares during the period. Cerity Partners LLC raised its position in shares of Matson by 4.6% during the 1st quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock worth $338,000 after purchasing an additional 117 shares during the period. Finally, Hancock Whitney Corp raised its position in shares of Matson by 8.2% during the 4th quarter. Hancock Whitney Corp now owns 1,598 shares of the shipping company's stock worth $215,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Price Performance

Shares of NYSE:MATX opened at $105.01 on Friday. The business has a 50 day moving average price of $110.32 and a 200 day moving average price of $117.45. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 7.10 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.18 by $0.74. The firm had revenue of $830.50 million during the quarter, compared to analysts' expectations of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.31 EPS. Research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Matson's previous quarterly dividend of $0.34. Matson's payout ratio is 9.74%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group restated a "hold" rating and issued a $115.00 target price on shares of Matson in a research report on Friday, August 1st. Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens lowered their target price on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $131.67.

Insider Activity at Matson

In related news, SVP Leonard P. Isotoff sold 500 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the sale, the senior vice president directly owned 5,644 shares of the company's stock, valued at $629,136.68. This trade represents a 8.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president owned 13,441 shares in the company, valued at $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

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.

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