Matson, Inc. $MATX Stake Decreased by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 765,315 shares of the shipping company’s stock after selling 41,507 shares during the period. Geode Capital Management LLC owned 2.45% of Matson worth $94,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada grew its position in Matson by 8.3% in the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after buying an additional 3,155 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Matson by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after purchasing an additional 863 shares during the period. Millennium Management LLC boosted its stake in shares of Matson by 7.1% during the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after buying an additional 6,778 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Matson during the 1st quarter valued at $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Matson by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after buying an additional 2,492 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Performance

NYSE:MATX opened at $188.01 on Friday. The firm’s 50-day moving average is $176.46 and its 200-day moving average is $153.43. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $192.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 13.81 and a beta of 1.29.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 EPS. Equities research analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were given a $0.36 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson’s payout ratio is 10.58%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.25.

Insider Transactions at Matson

In other Matson news, EVP Peter T. Heilmann sold 7,173 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the transaction, the executive vice president directly owned 25,506 shares in the company, valued at $4,595,926.14. The trade was a 21.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kuuhaku T. Park sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the transaction, the senior vice president owned 10,984 shares in the company, valued at $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 23,672 shares of company stock valued at $4,210,279. 2.51% of the stock is owned by company insiders.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.