Fairview Capital Investment Management LLC Sells 375 Shares of Matson, Inc. (NYSE:MATX)

Fairview Capital Investment Management LLC lessened its stake in shares of Matson, Inc. (NYSE:MATX) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,560 shares of the shipping company’s stock after selling 375 shares during the period. Fairview Capital Investment Management LLC’s holdings in Matson were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MATX. Ritholtz Wealth Management lifted its stake in shares of Matson by 17.8% during the 4th quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company’s stock valued at $2,183,000 after buying an additional 2,448 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Matson in the fourth quarter valued at about $9,788,000. Nisa Investment Advisors LLC boosted its stake in shares of Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock worth $2,244,000 after acquiring an additional 80 shares during the period. Paradiem LLC grew its position in shares of Matson by 2.2% during the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company’s stock worth $12,140,000 after purchasing an additional 1,909 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Matson by 2.9% during the 4th quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 1,997 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the sale, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.05% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $125.00 price target on shares of Matson in a research note on Tuesday. Stifel Nicolaus cut their target price on shares of Matson from $160.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday. Stephens decreased their price target on shares of Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $135.00.

Matson Trading Down 3.1 %

Shares of MATX opened at $96.19 on Friday. The stock has a market capitalization of $3.16 billion, a PE ratio of 8.00 and a beta of 1.30. The company’s fifty day moving average is $114.90 and its 200 day moving average is $134.33. 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 fifty-two week low of $91.75 and a fifty-two week high of $169.12.

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

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, May 8th. 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.