Schonfeld Strategic Advisors LLC Sells 20,260 Shares of Matson, Inc. (NYSE:MATX)

Schonfeld Strategic Advisors LLC lowered its stake in Matson, Inc. (NYSE:MATX - Free Report) by 46.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,029 shares of the shipping company's stock after selling 20,260 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.07% of Matson worth $3,105,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Matson in the 4th quarter worth approximately $30,000. IFP Advisors Inc bought a new position in shares of Matson during the 4th quarter worth about $40,000. Covestor Ltd increased its stake in Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after acquiring an additional 82 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Matson in the fourth quarter worth about $111,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MATX shares. Stephens dropped their target price on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $125.00 price objective on shares of Matson in a report on Tuesday. Finally, Stifel Nicolaus reduced their target price on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Matson presently has a consensus rating of "Moderate Buy" and an average price target of $135.00.

Matson Price Performance

Shares of MATX traded up $1.45 during mid-day trading on Wednesday, hitting $94.56. 1,217,882 shares of the company traded hands, compared to its average volume of 319,185. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $117.51 and a 200 day moving average of $135.11. Matson, Inc. has a one year low of $91.83 and a one year high of $169.12. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 7.87 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.04 earnings per share. As a group, equities analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 1.44%. Matson's payout ratio is presently 9.69%.

Insiders Place Their Bets

In other news, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Lauer sold 7,985 shares of the company'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 owns 25,192 shares of the company's stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

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.