Allspring Global Investments Holdings LLC Trims Position in Matson, Inc. (NYSE:MATX)

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

In other Matson news, CEO Matthew J. Cox sold 2,063 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $75.00, for a total value of $154,725.00. Following the sale, the chief executive officer now owns 245,739 shares of the company’s stock, valued at approximately $18,430,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Matson news, CEO Matthew J. Cox sold 2,063 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $75.00, for a total value of $154,725.00. Following the sale, the chief executive officer now directly owns 245,739 shares of the company’s stock, valued at approximately $18,430,425. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John P. Lauer sold 2,000 shares of Matson stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $68.41, for a total transaction of $136,820.00. Following the sale, the executive vice president now directly owns 33,745 shares of the company’s stock, valued at $2,308,495.45. The disclosure for this sale can be found here. Insiders sold 11,832 shares of company stock valued at $830,845 in the last three months. 1.90% of the stock is owned by corporate insiders.

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 Profile

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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.