Matson, Inc. (NYSE:MATX) Stock Position Decreased by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Matson, Inc. (NYSE:MATX) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,833 shares of the shipping company’s stock after selling 124 shares during the quarter. New York Life Investment Management LLC’s holdings in Matson were worth $639,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MATX. Schonfeld Strategic Advisors LLC bought a new stake in Matson in the third quarter worth approximately $14,074,000. American Century Companies Inc. increased its position in Matson by 11.2% during the third quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after buying an additional 65,736 shares during the last quarter. Forest Avenue Capital Management LP bought a new position in Matson during the third quarter valued at about $4,347,000. Allspring Global Investments Holdings LLC lifted its position in shares of Matson by 170.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 70,561 shares of the shipping company’s stock worth $6,260,000 after buying an additional 44,477 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Matson during the 4th quarter worth about $4,709,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MATX shares. Stifel Nicolaus boosted their target price on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 2,800 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the sale, the senior vice president now owns 4,746 shares in the company, valued at $533,830.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Leonard P. Isotoff sold 2,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the transaction, the senior vice president now directly owns 4,746 shares in the company, valued at $533,830.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now directly owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The disclosure for this sale can be found here. Insiders own 2.32% of the company’s stock.

Matson Price Performance

NYSE MATX opened at $111.83 on Thursday. The stock has a 50-day simple moving average of $108.76 and a 200 day simple moving average of $106.59. Matson, Inc. has a twelve month low of $64.21 and a twelve month high of $122.99. The stock has a market capitalization of $3.82 billion, a PE ratio of 13.19 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Research analysts anticipate that Matson, Inc. will post 8.51 EPS for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 annualized dividend and a yield of 1.14%. Matson’s dividend payout ratio is 15.09%.

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.