Seven Post Investment Office LP Sells 9,731 Shares of Matson, Inc. (NYSE:MATX)

Seven Post Investment Office LP lowered its position in shares of Matson, Inc. (NYSE:MATX) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 97,557 shares of the shipping company’s stock after selling 9,731 shares during the quarter. Matson comprises 2.7% of Seven Post Investment Office LP’s holdings, making the stock its 10th largest position. Seven Post Investment Office LP’s holdings in Matson were worth $10,692,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MATX. American Century Companies Inc. grew its position in shares of Matson by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock valued at $57,989,000 after buying an additional 65,736 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Matson by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,500 shares of the shipping company’s stock valued at $31,540,000 after buying an additional 13,591 shares during the last quarter. London Co. of Virginia boosted its holdings in shares of Matson by 1.5% in the third quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock valued at $26,966,000 after acquiring an additional 4,455 shares during the period. Invesco Ltd. grew its position in shares of Matson by 12.6% during the third quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock worth $25,313,000 after acquiring an additional 31,833 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Matson by 450.4% in the 4th quarter. LSV Asset Management now owns 239,439 shares of the shipping company’s stock valued at $26,243,000 after acquiring an additional 195,939 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of 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 the SEC website. Insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday.

Matson Stock Performance

Matson stock traded up $4.25 during trading hours on Friday, reaching $113.36. 364,375 shares of the stock were exchanged, compared to its average volume of 225,528. Matson, Inc. has a 52-week low of $62.71 and a 52-week high of $122.99. The stock has a market cap of $3.87 billion, a P/E ratio of 13.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 0.97. The firm’s 50 day moving average is $108.73 and its 200 day moving average is $106.08.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) 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 analysts’ expectations of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. Analysts predict that Matson, Inc. will post 8.51 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is currently 15.09%.

Matson Profile

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.