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

First Horizon Advisors Inc. lowered its position in Matson, Inc. (NYSE:MATX) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stephens upped their target price on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus raised their target price on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday.

Matson Stock Down 2.2 %

Shares of NYSE MATX opened at $140.55 on Friday. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The business has a 50-day simple moving average of $139.52 and a two-hundred day simple moving average of $141.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.67 billion, a P/E ratio of 11.69 and a beta of 1.05.

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

Matson Dividend Announcement

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