Marshall Wace LLP Sells 27,869 Shares of Matson, Inc. (NYSE:MATX)

Marshall Wace LLP lowered its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 75.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,999 shares of the shipping company's stock after selling 27,869 shares during the period. Marshall Wace LLP's holdings in Matson were worth $1,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. World Investment Advisors LLC purchased a new position in shares of Matson in the third quarter worth approximately $3,641,000. JPMorgan Chase & Co. grew its position in Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock worth $40,927,000 after purchasing an additional 26,366 shares in the last quarter. GAMMA Investing LLC raised its stake in Matson by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company's stock valued at $166,000 after purchasing an additional 133 shares during the period. Oliver Luxxe Assets LLC lifted its holdings in shares of Matson by 4.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 13,546 shares of the shipping company's stock valued at $1,827,000 after purchasing an additional 635 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Matson by 17.8% in the fourth quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company's stock worth $2,183,000 after buying an additional 2,448 shares during the period. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Stephens increased their target price on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group initiated coverage on shares of Matson in a report on Monday, April 28th. They set a "buy" rating and a $125.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.33.

Insider Activity at Matson

In other news, EVP John P. Lauer sold 7,985 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by company insiders.

Matson Stock Performance

Shares of NYSE MATX traded up $3.09 during trading hours on Friday, reaching $113.26. 420,750 shares of the stock were exchanged, compared to its average volume of 310,214. The stock's fifty day simple moving average is $119.12 and its 200 day simple moving average is $135.60. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.42 and a beta of 1.30. Matson, Inc. has a 52 week low of $92.90 and a 52 week high of $169.12. 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 announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. Sell-side analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, May 8th. Matson's dividend payout ratio is presently 9.69%.

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.