Mercer Global Advisors Inc. ADV Has $424,000 Stock Holdings in Matson, Inc. (NYSE:MATX)

Mercer Global Advisors Inc. ADV decreased its stake in Matson, Inc. (NYSE:MATX) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,148 shares of the shipping company’s stock after selling 240 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Matson were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MATX. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Matson by 206.3% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 144,623 shares of the shipping company’s stock worth $19,501,000 after buying an additional 97,400 shares during the period. Comerica Bank lifted its stake in Matson by 16.7% in the 4th quarter. Comerica Bank now owns 20,570 shares of the shipping company’s stock worth $2,774,000 after acquiring an additional 2,944 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Matson during the 4th quarter worth about $236,000. AdvisorShares Investments LLC purchased a new position in Matson during the 4th quarter valued at about $441,000. Finally, Northern Trust Corp increased its holdings in shares of Matson by 14.5% in the 4th quarter. Northern Trust Corp now owns 484,432 shares of the shipping company’s stock valued at $65,321,000 after purchasing an additional 61,204 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at Matson

In related news, SVP Richard S. Kinney sold 1,997 shares of Matson 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 sale, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at $1,155,151.75. This trade represents a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total value of $200,923.00. Following the completion of the transaction, the senior vice president now owns 14,712 shares of the company’s stock, valued at $1,738,811.28. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,682 shares of company stock valued at $1,550,551 in the last 90 days. 2.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on MATX. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Jefferies Financial Group lifted their target price on shares of Matson from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus dropped their price target on shares of Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Finally, Stephens reduced their price objective on Matson from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.33.

Matson Stock Performance

Shares of NYSE MATX opened at $117.64 on Wednesday. The business’s 50-day simple moving average is $114.42 and its 200-day simple moving average is $134.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 9.79 and a beta of 1.30.

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

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.16%. Matson’s payout ratio is 8.96%.

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.