Primecap Management Co. CA Has $5.11 Million Stock Position in Matson, Inc. (NYSE:MATX)

Primecap Management Co. CA lessened its position in shares of Matson, Inc. (NYSE:MATX) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,900 shares of the shipping company’s stock after selling 21,650 shares during the quarter. Primecap Management Co. CA owned about 0.11% of Matson worth $5,110,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc bought a new stake in Matson during the 4th quarter worth about $40,000. U S Global Investors Inc. bought a new stake in shares of Matson during the fourth quarter worth approximately $111,000. Smartleaf Asset Management LLC lifted its holdings in Matson by 339.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 901 shares of the shipping company’s stock valued at $122,000 after buying an additional 696 shares during the period. Rothschild Investment LLC boosted its stake in Matson by 31.4% in the fourth quarter. Rothschild Investment LLC now owns 1,059 shares of the shipping company’s stock valued at $143,000 after acquiring an additional 253 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Matson by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock worth $166,000 after acquiring an additional 133 shares during the period. Institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

MATX stock opened at $128.31 on Thursday. Matson, Inc. has a 1-year low of $100.50 and a 1-year high of $169.12. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.21 billion, a PE ratio of 10.67 and a beta of 1.05. The business’s 50-day moving average price is $138.24 and its two-hundred day moving average price is $141.09.

Matson (NYSE:MATX) last issued its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.60. The business had revenue of $890.30 million during the quarter, compared to analyst estimates of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. As a group, research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.06%. Matson’s payout ratio is 9.69%.

Insider Activity at Matson

In related news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the sale, the executive vice president now owns 25,192 shares of the company’s stock, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at approximately $1,155,151.75. This trade represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. 2.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MATX shares. Stifel Nicolaus raised their price target on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Stephens upped their price target on Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th.

About Matson

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.