First Hawaiian Bank Has $1.63 Million Stock Position in Matson, Inc. $MATX

First Hawaiian Bank lowered its stake in Matson, Inc. (NYSE:MATX) by 48.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,196 shares of the shipping company’s stock after selling 12,411 shares during the quarter. First Hawaiian Bank’s holdings in Matson were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MATX. Millennium Management LLC lifted its stake in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Matson during the third quarter valued at approximately $26,415,000. Ameriprise Financial Inc. raised its holdings in shares of Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after acquiring an additional 128,994 shares during the period. Royce & Associates LP purchased a new stake in shares of Matson in the 3rd quarter valued at approximately $9,503,000. Finally, Qube Research & Technologies Ltd boosted its stake in Matson by 79.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock worth $24,123,000 after purchasing an additional 95,796 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at Matson

In other Matson news, VP Kevin L. Stuck sold 2,524 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $167.08, for a total value of $421,709.92. Following the transaction, the vice president directly owned 2,331 shares of the company’s stock, valued at $389,463.48. This represents a 51.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John P. Lauer sold 8,603 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $166.13, for a total value of $1,429,216.39. Following the sale, the executive vice president directly owned 23,738 shares of the company’s stock, valued at $3,943,593.94. This trade represents a 26.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,550 shares of company stock valued at $7,034,602 in the last quarter. Corporate insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MATX shares. Wolfe Research reiterated an “outperform” rating and set a $167.00 price objective on shares of Matson in a research report on Thursday, January 8th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Stephens lifted their price target on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.25.

Matson Stock Performance

Shares of MATX opened at $157.99 on Friday. The company’s 50 day moving average price is $157.43 and its 200 day moving average price is $125.20. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $177.51. The company has a market capitalization of $4.81 billion, a PE ratio of 11.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.91. Matson had a net margin of 13.30% and a return on equity of 16.63%. The firm had revenue of $851.90 million for the quarter, compared to analyst estimates of $847.30 million. During the same quarter in the prior year, the business earned $3.80 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Matson’s dividend payout ratio is 10.33%.

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.