BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in Matson, Inc. $MATX

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Matson, Inc. (NYSE:MATX) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,658 shares of the shipping company’s stock after selling 5,790 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Matson were worth $4,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its position in Matson by 4.9% in the second quarter. American Century Companies Inc. now owns 1,215,407 shares of the shipping company’s stock worth $135,336,000 after acquiring an additional 56,573 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after purchasing an additional 128,994 shares during the last quarter. LSV Asset Management grew its holdings in shares of Matson by 6.5% during the 2nd quarter. LSV Asset Management now owns 317,422 shares of the shipping company’s stock worth $35,345,000 after purchasing an additional 19,508 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Matson by 79.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock worth $24,123,000 after purchasing an additional 95,796 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Matson in the 2nd quarter valued at about $21,037,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Price Performance

Matson stock opened at $163.36 on Friday. The company’s 50 day moving average is $134.82 and its two-hundred day moving average is $114.27. The firm has a market cap of $5.09 billion, a PE ratio of 12.43 and a beta of 1.35. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $169.20.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.99. The business had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. Matson had a return on equity of 16.23% and a net margin of 12.70%.The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.89 earnings per share. On average, research analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson’s dividend payout ratio (DPR) is currently 10.96%.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $167.00 price target on shares of Matson in a research report on Thursday, January 8th. Stephens increased their price objective on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.25.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.