Vest Financial LLC Sells 12,026 Shares of Matson, Inc. (NYSE:MATX)

Vest Financial LLC lessened its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 67.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,810 shares of the shipping company's stock after selling 12,026 shares during the quarter. Vest Financial LLC's holdings in Matson were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Matson by 0.3% during the fourth 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 during the last quarter. American Century Companies Inc. lifted its holdings in shares of Matson by 10.9% during 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 buying an additional 106,490 shares during the period. Capital Research Global Investors boosted its stake in shares of Matson by 8.3% in the 4th quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock worth $101,590,000 after buying an additional 58,027 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Matson by 21.5% in the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock worth $89,432,000 after acquiring an additional 117,545 shares during the period. Finally, Northern Trust Corp increased its position in Matson by 14.5% during the fourth quarter. Northern Trust Corp now owns 484,432 shares of the shipping company's stock valued at $65,321,000 after acquiring an additional 61,204 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other Matson news, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 14,712 shares of the company's stock, valued at $1,738,811.28. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction dated Wednesday, May 28th. The shares were 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 now owns 5,644 shares of the company's stock, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Trading Up 0.7%

Shares of NYSE MATX opened at $112.89 on Monday. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The firm has a market cap of $3.69 billion, a PE ratio of 9.39 and a beta of 1.31. The business has a fifty day simple moving average of $107.88 and a two-hundred day simple moving average of $128.61. 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 (NYSE:MATX - Get Free Report) last posted its 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). Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $782.00 million during the quarter, compared to analysts' expectations of $818.07 million. During the same quarter last year, the firm earned $1.04 EPS. Matson's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

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

Analyst Upgrades and Downgrades

MATX has been the topic of several analyst reports. Stephens dropped their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group lifted their target price on shares of Matson from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $138.33.

About Matson

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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