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

Primecap Management Co. CA decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 36.4% during the 4th quarter, Holdings Channel reports. The firm owned 37,900 shares of the shipping company’s stock after selling 21,650 shares during the period. Primecap Management Co. CA’s holdings in Matson were worth $5,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MATX. Natixis Advisors LLC increased its holdings in Matson by 0.5% during the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after buying an additional 78 shares during the last quarter. Quest Partners LLC increased its stake in shares of Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock worth $1,476,000 after purchasing an additional 6,080 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Matson by 4.2% in the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after purchasing an additional 91 shares during the period. Advisors Asset Management Inc. lifted its stake in Matson by 53.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,572 shares of the shipping company’s stock valued at $367,000 after purchasing an additional 891 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in Matson by 43.5% during the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock worth $2,051,000 after purchasing an additional 4,361 shares during the period. Institutional investors own 84.76% of the company’s stock.

Matson Trading Up 0.9 %

Shares of MATX stock opened at $128.31 on Thursday. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The company has a market capitalization of $4.21 billion, a PE ratio of 10.67 and a beta of 1.05. The firm has a 50 day moving average price of $138.24 and a two-hundred day moving average price of $141.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

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

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were given a $0.34 dividend. 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 presently 9.69%.

Insider Activity at Matson

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MATX. Stephens upped their price objective on Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus raised their price target on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, February 26th.

Matson Company 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.