Paradiem LLC Reduces Holdings in Matson, Inc. $MATX

Paradiem LLC lowered its stake in Matson, Inc. (NYSE:MATX) by 11.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,082 shares of the shipping company’s stock after selling 11,632 shares during the period. Matson accounts for about 3.2% of Paradiem LLC’s holdings, making the stock its 9th largest holding. Paradiem LLC’s holdings in Matson were worth $14,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after acquiring an additional 94 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Matson by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after acquiring an additional 109 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Matson by 4.4% in the 4th quarter. Cetera Investment Advisers now owns 3,880 shares of the shipping company’s stock worth $479,000 after purchasing an additional 164 shares during the last quarter. Amundi raised its position in shares of Matson by 3.1% in the 3rd quarter. Amundi now owns 5,637 shares of the shipping company’s stock worth $557,000 after purchasing an additional 168 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Matson by 7.8% in the 3rd quarter. Private Advisor Group LLC now owns 2,336 shares of the shipping company’s stock worth $230,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Matson presently has an average rating of “Moderate Buy” and an average price target of $181.25.

Insider Transactions at Matson

In related news, SVP Laura L. Rascon sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the sale, the senior vice president owned 15,656 shares in the company, valued at approximately $2,951,625.68. This trade represents a 15.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christopher A. Scott sold 1,520 shares of Matson stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total transaction of $275,196.00. Following the completion of the sale, the senior vice president directly owned 9,708 shares of the company’s stock, valued at approximately $1,757,633.40. This trade represents a 13.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 23,963 shares of company stock valued at $4,349,268. Company insiders own 2.51% of the company’s stock.

Matson Trading Down 0.2%

Matson stock opened at $204.36 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Matson, Inc. has a one year low of $86.97 and a one year high of $207.88. The stock has a market capitalization of $6.18 billion, a PE ratio of 15.02 and a beta of 1.28. The business’s fifty day moving average is $190.50 and its 200 day moving average is $168.43.

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

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a $0.38 dividend. This is a boost from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio (DPR) is presently 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.