M&T Bank Corp Reduces Holdings in Matson, Inc. (NYSE:MATX)

M&T Bank Corp lessened its position in shares of Matson, Inc. (NYSE:MATX) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,525 shares of the shipping company’s stock after selling 2,341 shares during the quarter. M&T Bank Corp owned about 0.06% of Matson worth $2,359,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MATX. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Matson in the 4th quarter valued at $26,000. 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. GAMMA Investing LLC acquired a new stake in shares of Matson during the fourth quarter valued at about $89,000. U S Global Investors Inc. raised its stake in shares of Matson by 13.4% in the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 118 shares during the period. Finally, Planned Solutions Inc. acquired a new position in shares of Matson in the 4th quarter worth approximately $112,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MATX shares. Stifel Nicolaus lifted their target price on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a research note on Thursday.

Matson Stock Performance

NYSE:MATX opened at $111.83 on Thursday. Matson, Inc. has a 52 week low of $64.21 and a 52 week high of $122.99. The company has a fifty day simple moving average of $108.76 and a two-hundred day simple moving average of $106.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 13.19 and a beta of 1.12.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. Matson’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities analysts anticipate that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. Matson’s dividend payout ratio is currently 15.09%.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the transaction, the senior vice president now directly owns 4,746 shares of the company’s stock, valued at $533,830.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Christopher A. Scott sold 1,171 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leonard P. Isotoff sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $112.48, for a total value of $314,944.00. Following the sale, the senior vice president now directly owns 4,746 shares of the company’s stock, valued at $533,830.08. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

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.