Franklin Resources Inc. Reduces Stock Position in Matson, Inc. (NYSE:MATX)

Franklin Resources Inc. cut its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,706 shares of the shipping company's stock after selling 3,617 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Matson worth $3,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in Matson during the 4th quarter worth about $2,705,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Matson by 17.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 58,367 shares of the shipping company's stock worth $7,870,000 after buying an additional 8,462 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Matson in the fourth quarter valued at approximately $13,704,000. Schroder Investment Management Group grew its stake in Matson by 10.6% during the fourth quarter. Schroder Investment Management Group now owns 5,260 shares of the shipping company's stock valued at $713,000 after acquiring an additional 505 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Matson by 2.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 41,354 shares of the shipping company's stock worth $5,576,000 after acquiring an additional 1,067 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MATX shares. Stifel Nicolaus boosted their price target on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. Stephens raised their price target on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th.

Matson Price Performance

Shares of NYSE MATX traded up $0.37 during mid-day trading on Friday, reaching $98.29. 394,854 shares of the company were exchanged, compared to its average volume of 299,690. Matson, Inc. has a 52 week low of $96.72 and a 52 week high of $169.12. The company's 50 day moving average price is $127.87 and its 200 day moving average price is $138.07. The stock has a market capitalization of $3.23 billion, a PE ratio of 8.18 and a beta of 1.12. 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 issued its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.60. The firm had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Sell-side analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 6th. Matson's dividend payout ratio (DPR) is presently 9.69%.

Insider Activity

In other news, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the sale, the executive vice president now directly owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

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.