Geode Capital Management LLC Sells 41,507 Shares of Matson, Inc. $MATX

Geode Capital Management LLC lessened its position in Matson, Inc. (NYSE:MATX) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 765,315 shares of the shipping company’s stock after selling 41,507 shares during the period. Geode Capital Management LLC’s holdings in Matson were worth $94,574,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after acquiring an additional 94 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Matson by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock worth $3,639,000 after acquiring an additional 109 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Xponance Inc. increased its position in shares of Matson by 6.1% during the third quarter. Xponance Inc. now owns 2,849 shares of the shipping company’s stock worth $281,000 after acquiring an additional 165 shares in the last quarter. Finally, Amundi increased its position in shares of Matson by 3.1% during the third quarter. Amundi now owns 5,637 shares of the shipping company’s stock worth $557,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Matson

In related news, SVP Laura L. Rascon sold 540 shares of Matson stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total transaction of $97,648.20. Following the sale, the senior vice president directly owned 18,456 shares in the company, valued at $3,337,398.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher A. Scott sold 1,520 shares of Matson stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total transaction of $275,196.00. Following the sale, the senior vice president owned 9,708 shares in the company, valued at approximately $1,757,633.40. This represents a 13.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,672 shares of company stock worth $4,210,279 over the last quarter. Insiders own 2.51% of the company’s stock.

Matson Stock Performance

NYSE MATX opened at $188.01 on Friday. The firm has a 50-day moving average of $176.46 and a 200-day moving average of $153.43. 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 stock has a market cap of $5.69 billion, a PE ratio of 13.81 and a beta of 1.29. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $192.53.

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

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s payout ratio is 10.58%.

Matson Company Profile

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.