Vanguard Group Inc. Sells 25,594 Shares of Matson, Inc. (NYSE:MATX)

Vanguard Group Inc. lessened its holdings in Matson, Inc. (NYSE:MATX) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,768,624 shares of the shipping company’s stock after selling 25,594 shares during the period. Vanguard Group Inc. owned approximately 10.92% of Matson worth $413,041,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. purchased a new position in Matson during the fourth quarter worth $26,000. USA Financial Formulas purchased a new position in Matson during the fourth quarter worth $26,000. Security National Bank purchased a new position in Matson during the fourth quarter worth $36,000. Blue Trust Inc. boosted its stake in Matson by 109.6% during the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after buying an additional 217 shares during the period. Finally, Evermay Wealth Management LLC purchased a new position in Matson during the fourth quarter worth $66,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MATX. Stifel Nicolaus lifted their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Stephens reissued an “overweight” rating and set a $135.00 target price on shares of Matson in a research note on Friday, May 24th.

Matson Stock Down 1.9 %

Shares of MATX opened at $128.99 on Thursday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 15.21 and a beta of 1.11. Matson, Inc. has a 12-month low of $74.04 and a 12-month high of $133.53. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $117.50 and a 200-day moving average price of $113.45.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Matson had a net margin of 9.61% and a return on equity of 12.66%. The company had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. During the same period in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts expect that Matson, Inc. will post 10.1 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is presently 15.09%.

Insider Buying and Selling

In related news, SVP Leonard P. Isotoff sold 2,800 shares of the company’s 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 directly owns 4,746 shares of the company’s stock, valued at $533,830.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Matson news, SVP Richard S. Kinney sold 1,792 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $115.11, for a total value of $206,277.12. Following the completion of the transaction, the senior vice president now directly owns 9,588 shares in the company, valued at $1,103,674.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leonard P. Isotoff sold 2,800 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $112.48, for a total transaction of $314,944.00. Following the completion of the transaction, the senior vice president now owns 4,746 shares of the company’s stock, valued at $533,830.08. The disclosure for this sale can be found here. Insiders sold a total of 5,485 shares of company stock valued at $619,987 over the last three months. 2.32% of the stock is owned by company insiders.

Matson 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.