First Horizon Advisors Inc. Has $39,000 Stock Position in Matson, Inc. (NYSE:MATX)

First Horizon Advisors Inc. lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 288 shares of the shipping company’s stock after selling 126 shares during the quarter. First Horizon Advisors Inc.’s holdings in Matson were worth $39,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Matson during the 3rd quarter worth approximately $50,000. DekaBank Deutsche Girozentrale bought a new position in shares of Matson in the third quarter valued at $92,000. Farther Finance Advisors LLC grew its stake in shares of Matson by 1,661.3% in the third quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after buying an additional 1,030 shares in the last quarter. GAMMA Investing LLC boosted its position in Matson by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock worth $166,000 after purchasing an additional 133 shares during the period. Finally, Private Advisor Group LLC bought a new position in Matson during the third quarter worth $210,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

MATX has been the subject of a number of research analyst reports. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stifel Nicolaus lifted their price objective on shares of Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Stephens lifted their price objective on shares of Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Matson Trading Down 2.2 %

Shares of Matson stock opened at $140.55 on Friday. The firm has a 50-day moving average of $139.52 and a 200-day moving average of $141.11. The stock has a market cap of $4.67 billion, a PE ratio of 11.69 and a beta of 1.05. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

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

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. Matson’s payout ratio 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.