Rhumbline Advisers Decreases Stock Position in Matson, Inc. (NYSE:MATX)

Rhumbline Advisers lessened its stake in Matson, Inc. (NYSE:MATX - Free Report) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,384 shares of the shipping company's stock after selling 6,014 shares during the quarter. Rhumbline Advisers owned about 0.30% of Matson worth $12,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Matson during the 4th quarter valued at approximately $35,016,000. Leigh Baldwin & CO. LLC bought a new position in Matson during the fourth quarter valued at about $34,897,000. Ameriprise Financial Inc. boosted its stake in Matson by 73.9% during the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after buying an additional 177,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in Matson by 14,218.7% during the first quarter. GAMMA Investing LLC now owns 175,977 shares of the shipping company's stock valued at $22,555,000 after buying an additional 174,748 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Matson in the 4th quarter valued at $20,204,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MATX. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens dropped their price target on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group lifted their price objective on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Stifel Nicolaus decreased their price target on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Matson presently has a consensus rating of "Hold" and an average target price of $138.33.

Matson Trading Up 0.7%

Shares of MATX opened at $112.89 on Monday. The stock's fifty day simple moving average is $107.88 and its 200-day simple moving average is $128.61. The firm has a market capitalization of $3.69 billion, a PE ratio of 9.39 and a beta of 1.31. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12-month low of $91.75 and a 12-month high of $169.12.

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

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 1.20%. Matson's dividend payout ratio is 8.96%.

Insider Buying and Selling at Matson

In other Matson news, Director Bradley D. Tilden acquired 2,752 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, with a total value of $307,563.52. Following the completion of the transaction, the director now directly owns 8,180 shares in the company, valued at approximately $914,196.80. This represents a 50.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total value of $55,735.00. Following the transaction, the senior vice president now owns 5,644 shares in the company, valued at approximately $629,136.68. This trade represents a 8.14% decrease in their position. The disclosure for this sale can be found here. Corporate 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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