First Hawaiian Bank Lowers Position in Matson, Inc. (NYSE:MATX)

First Hawaiian Bank lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,086 shares of the shipping company’s stock after selling 3,483 shares during the quarter. First Hawaiian Bank owned approximately 0.14% of Matson worth $6,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of Matson in the second quarter worth approximately $34,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson during the third quarter worth about $50,000. Daiwa Securities Group Inc. purchased a new stake in Matson during the 2nd quarter worth approximately $79,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Matson in the third quarter valued at about $92,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Matson in the second quarter worth about $105,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the transaction, the senior vice president now owns 4,254 shares of the company’s stock, valued at approximately $686,000.04. This trade represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Warren Sullivan sold 750 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,646 shares of company stock worth $1,578,768. 2.32% of the stock is owned by insiders.

Matson Price Performance

Shares of MATX stock traded up $0.83 during trading hours on Wednesday, hitting $139.27. 135,570 shares of the company’s stock were exchanged, compared to its average volume of 208,931. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $149.15 and a two-hundred day moving average of $138.33. The firm has a market cap of $4.63 billion, a P/E ratio of 11.59 and a beta of 1.07. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 EPS. Sell-side analysts forecast that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, November 7th. Matson’s dividend payout ratio is currently 11.31%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $165.00 target price on shares of Matson in a report on Thursday, January 2nd. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

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.