Russell Investments Group Ltd. Has $5.57 Million Stake in Matson, Inc. (NYSE:MATX)

Russell Investments Group Ltd. decreased its position in Matson, Inc. (NYSE:MATX - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,849 shares of the shipping company's stock after selling 24,830 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Matson worth $5,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MATX. U S Global Investors Inc. lifted its holdings in shares of Matson by 13.4% during the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company's stock worth $109,000 after purchasing an additional 118 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Matson by 1.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company's stock valued at $862,000 after purchasing an additional 128 shares in the last quarter. Check Capital Management Inc. CA boosted its holdings in Matson by 4.6% in the 4th quarter. Check Capital Management Inc. CA now owns 3,720 shares of the shipping company's stock valued at $408,000 after purchasing an additional 165 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Matson by 6.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company's stock worth $324,000 after buying an additional 213 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company's stock valued at $45,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com lowered Matson from a "buy" rating to a "hold" rating in a report on Thursday. Stifel Nicolaus increased their target price on shares of Matson from $109.00 to $111.00 and gave the stock a "hold" rating in a report on Wednesday, May 1st.

Matson Price Performance

Shares of NYSE MATX traded up $1.89 during mid-day trading on Friday, reaching $116.14. The company had a trading volume of 214,007 shares, compared to its average volume of 264,214. The company has a 50-day moving average price of $108.82 and a two-hundred day moving average price of $106.64. The stock has a market cap of $3.97 billion, a PE ratio of 13.47 and a beta of 1.12. Matson, Inc. has a 1-year low of $64.21 and a 1-year high of $122.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The firm had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. On average, equities analysts anticipate that Matson, Inc. will post 8.51 earnings per share for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.10%. Matson's payout ratio is currently 15.09%.

Insider Transactions at Matson

In related news, SVP John Warren Sullivan sold 893 shares of the company's stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the transaction, the senior vice president now directly owns 13,495 shares of the company's stock, valued at approximately $1,492,547. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total transaction of $126,268.93. Following the sale, the senior vice president now owns 12,958 shares of the company's stock, valued at $1,397,261.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Warren Sullivan sold 893 shares of Matson stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the transaction, the senior vice president now directly owns 13,495 shares of the company's stock, valued at $1,492,547. The disclosure for this sale can be found here. Insiders have sold 4,864 shares of company stock worth $539,979 in the last three months. Insiders own 2.32% of the company's stock.

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.