LSV Asset Management Sells 4,900 Shares of Matson, Inc. $MATX

LSV Asset Management trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 312,522 shares of the shipping company’s stock after selling 4,900 shares during the quarter. LSV Asset Management owned approximately 0.98% of Matson worth $30,812,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after acquiring an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Matson by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock valued at $2,501,000 after purchasing an additional 863 shares in the last quarter. Millennium Management LLC grew its holdings in Matson by 7.1% during the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after purchasing an additional 6,778 shares during the period. NewEdge Advisors LLC purchased a new stake in Matson in the first quarter worth about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Matson by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock worth $3,135,000 after buying an additional 2,492 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Up 2.6%

Shares of MATX stock opened at $162.27 on Friday. The company’s fifty day simple moving average is $139.58 and its two-hundred day simple moving average is $116.10. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $169.20. The stock has a market cap of $5.06 billion, a P/E ratio of 12.35 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 Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.