Artemis Investment Management LLP Trims Holdings in Matson, Inc. (NYSE:MATX)

Artemis Investment Management LLP reduced its position in Matson, Inc. (NYSE:MATX) by 45.8% in the 4th quarter, Holdings Channel reports. The fund owned 50,297 shares of the shipping company’s stock after selling 42,576 shares during the period. Artemis Investment Management LLP’s holdings in Matson were worth $6,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Matson in the 3rd quarter valued at approximately $50,000. DekaBank Deutsche Girozentrale bought a new position in Matson during the 3rd quarter valued at $92,000. Canada Pension Plan Investment Board acquired a new position in Matson during the 2nd quarter worth $105,000. GAMMA Investing LLC increased its position in shares of Matson by 45.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company’s stock worth $156,000 after purchasing an additional 343 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Matson by 1,661.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 1,030 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

MATX has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $165.00 price target on shares of Matson in a report on Thursday, January 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Insider Transactions at Matson

In other Matson news, EVP Peter T. Heilmann sold 5,404 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total transaction of $877,393.44. Following the transaction, the executive vice president now owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. This represents a 14.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Leonard P. Isotoff sold 492 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the transaction, the senior vice president now owns 4,254 shares in the company, valued at approximately $686,000.04. The trade was a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,646 shares of company stock worth $1,578,768. 2.32% of the stock is owned by insiders.

Matson Stock Down 2.7 %

MATX stock opened at $137.48 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.57 billion, a PE ratio of 11.44 and a beta of 1.07. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The firm has a 50 day simple moving average of $146.48 and a 200 day simple moving average of $138.87.

Matson (NYSE:MATX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same period last year, the company posted $3.40 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. Equities research analysts forecast that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.99%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

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.