Allspring Global Investments Holdings LLC lowered its position in Matson, Inc. (NYSE:MATX – Get Rating) by 85.1% in the third quarter, HoldingsChannel reports. The firm owned 8,076 shares of the shipping company’s stock after selling 45,968 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Matson were worth $496,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MATX. Ronald Blue Trust Inc. grew its stake in shares of Matson by 92.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 372 shares of the shipping company’s stock valued at $27,000 after buying an additional 179 shares during the period. First Horizon Advisors Inc. raised its position in Matson by 1,573.1% in the second quarter. First Horizon Advisors Inc. now owns 435 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 409 shares during the period. Islay Capital Management LLC acquired a new position in shares of Matson in the 3rd quarter valued at $32,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Matson during the 2nd quarter worth $36,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Matson during the 2nd quarter worth about $39,000. 83.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MATX has been the topic of a number of recent analyst reports. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Wolfe Research upgraded shares of Matson from an “underperform” rating to a “peer perform” rating in a report on Thursday, November 17th. Finally, Stifel Nicolaus decreased their price target on Matson from $79.00 to $73.00 and set a “hold” rating on the stock in a research note on Thursday, January 19th.
Insider Buying and Selling
Matson Stock Up 0.9 %
Shares of NYSE:MATX opened at $64.04 on Tuesday. The firm’s 50-day moving average is $62.88 and its two-hundred day moving average is $70.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.46 and a quick ratio of 1.46. Matson, Inc. has a 1 year low of $58.06 and a 1 year high of $125.34. The firm has a market capitalization of $2.42 billion, a PE ratio of 1.88 and a beta of 1.25.
Matson (NYSE:MATX – Get Rating) last released its earnings results on Wednesday, November 2nd. The shipping company reported $6.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $0.14. Matson had a net margin of 28.71% and a return on equity of 68.93%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Analysts predict that Matson, Inc. will post 27.42 EPS for the current year.
Matson Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 10th were issued a $0.31 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.94%. Matson’s dividend payout ratio (DPR) is presently 3.65%.
Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.
- Get a free copy of the StockNews.com research report on Matson (MATX)
- Is the Northrop Grumman Selloff an Opportunity?
- Is the Worst Behind for Under Armor Stock with a New CEO?
- What Does Microsoft’s Investment in ChatGBT Mean for MSFT Stock?
- Analysts Like The Fit Of Skechers USA
- Can We Trust The Rally In The S&P 500
Receive News & Ratings for Matson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson and related companies with MarketBeat.com's FREE daily email newsletter.