William Blair Investment Management LLC Decreases Holdings in Matson, Inc. $MATX

Key Points

• William Blair Investment Management cut its Matson stake by 9.3% in the fourth quarter, selling 16,595 shares and leaving it with 161,560 shares worth about $19.96 million.
• Matson reported better-than-expected earnings for the latest quarter, posting EPS of $1.85 versus consensus of $1.65, though revenue of $757.8 million fell short of estimates and declined 3.1% year over year.
• The company also declared a quarterly dividend of $0.36 per share, payable June 4, while analysts currently rate the stock a Moderate Buy with an average price target of $181.25.

William Blair Investment Management LLC decreased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,560 shares of the shipping company's stock after selling 16,595 shares during the quarter. William Blair Investment Management LLC owned 0.52% of Matson worth $19,961,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MATX. Royal Bank of Canada boosted its stake in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company's stock worth $5,300,000 after acquiring an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Matson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company's stock worth $2,501,000 after acquiring an additional 863 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Matson by 7.1% during the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company's stock worth $13,154,000 after acquiring an additional 6,778 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Matson during the 1st quarter worth approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Matson by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company's stock worth $3,135,000 after acquiring an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,520 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total value of $275,196.00. Following the sale, the senior vice president owned 9,708 shares of the company's stock, valued at approximately $1,757,633.40. This represents a 13.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Laura L. Rascon sold 540 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total value of $97,648.20. Following the completion of the sale, the senior vice president directly owned 18,456 shares in the company, valued at approximately $3,337,398.48. The trade was a 2.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,513 shares of company stock worth $10,635,702 in the last quarter. Insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MATX. Zacks Research raised Matson to a "hold" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. began coverage on Matson in a research note on Monday, April 27th. They set an "overweight" rating and a $230.00 price target on the stock. Finally, Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $181.25.

Matson Price Performance

MATX stock opened at $181.67 on Tuesday. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $190.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50 day moving average price is $171.34 and its 200 day moving average price is $148.88. The firm has a market cap of $5.50 billion, a P/E ratio of 13.35 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. During the same quarter in the prior year, the company earned $2.18 EPS. Matson's revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson's dividend payout ratio is presently 10.58%.

About Matson

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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