Matson, Inc. (NYSE:MATX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Matson, Inc. (NYSE:MATX) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,037 shares of the shipping company’s stock after selling 10,067 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of Matson worth $7,723,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Natixis Advisors LLC raised its position in Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after purchasing an additional 78 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock worth $2,244,000 after buying an additional 80 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Matson by 2.9% in the 4th quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after purchasing an additional 85 shares in the last quarter. Caprock Group LLC lifted its holdings in Matson by 4.2% in the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after acquiring an additional 91 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in Matson by 6.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock worth $237,000 after purchasing an additional 107 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MATX. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens reiterated an “overweight” rating and issued a $165.00 price objective on shares of Matson in a report on Thursday, January 2nd.

Matson Stock Performance

Shares of MATX opened at $149.25 on Wednesday. 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. The company has a market capitalization of $4.96 billion, a PE ratio of 12.42 and a beta of 1.05. The company’s 50 day moving average price is $139.58 and its 200 day moving average price is $140.48.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 6th. Matson’s dividend payout ratio is presently 11.31%.

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.