Intech Investment Management LLC Sells 6,528 Shares of Matson, Inc. $MATX

Intech Investment Management LLC cut its holdings in shares of Matson, Inc. (NYSE:MATX) by 21.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,707 shares of the shipping company’s stock after selling 6,528 shares during the period. Intech Investment Management LLC’s holdings in Matson were worth $2,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Matson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after purchasing an additional 21,516 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Matson by 2.9% during the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Matson by 27.9% during the second 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 in the last quarter. Millennium Management LLC lifted its position in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after acquiring an additional 269,310 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Matson during the third quarter valued at approximately $26,415,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MATX has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Friday. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Finally, Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Insiders Place Their Bets

In other Matson news, SVP Kuuhaku T. Park sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the completion of the transaction, the senior vice president owned 10,984 shares of the company’s stock, valued at approximately $1,979,206.96. This trade represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John Warren Sullivan sold 3,331 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total transaction of $600,046.34. Following the completion of the transaction, the senior vice president directly owned 9,547 shares of the company’s stock, valued at approximately $1,719,796.58. This represents a 25.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 32,275 shares of company stock valued at $5,639,495. Corporate insiders own 2.51% of the company’s stock.

Matson Trading Down 0.4%

NYSE MATX opened at $187.33 on Wednesday. The company has a fifty day simple moving average of $174.31 and a two-hundred day simple moving average of $151.51. The stock has a market cap of $5.67 billion, a P/E ratio of 13.76 and a beta of 1.29. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $190.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $2.18 earnings per share. On average, analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Matson 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.