Allspring Global Investments Holdings LLC Reduces Holdings in Matson, Inc. (NYSE:MATX)

Allspring Global Investments Holdings LLC lowered its position in Matson, Inc. (NYSE:MATX) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 69,089 shares of the shipping company’s stock after selling 1,472 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of Matson worth $7,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. Advisors Preferred LLC purchased a new position in shares of Matson in the fourth quarter worth about $1,958,000. O Shaughnessy Asset Management LLC raised its holdings in Matson by 105.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock valued at $3,316,000 after acquiring an additional 19,149 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in Matson by 317.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock worth $2,197,000 after purchasing an additional 18,830 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Matson by 25.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock worth $5,381,000 after purchasing an additional 12,285 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Matson by 178.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company’s stock valued at $826,000 after purchasing an additional 5,973 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 2.1 %

MATX stock opened at $106.04 on Thursday. Matson, Inc. has a one year low of $61.51 and a one year high of $122.99. The firm has a market cap of $3.66 billion, a PE ratio of 12.65 and a beta of 1.12. The firm’s 50 day moving average price is $111.31 and its 200-day moving average price is $104.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 20th. The shipping company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 earnings per share. On average, equities research analysts anticipate that Matson, Inc. will post 8.2 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 8th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.21%. Matson’s payout ratio is currently 15.27%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Stifel Nicolaus lifted their price target on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st.

Insider Buying and Selling at Matson

In other news, SVP Christopher A. Scott sold 1,171 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now directly owns 12,958 shares in the company, valued at approximately $1,397,261.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.32% 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.