Public Employees Retirement Association of Colorado Sells 213 Shares of Matson, Inc. (NYSE:MATX)

Public Employees Retirement Association of Colorado reduced its stake in Matson, Inc. (NYSE:MATX) by 12.3% during the second quarter, HoldingsChannel.com reports. The firm owned 1,517 shares of the shipping company’s stock after selling 213 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Matson were worth $199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after purchasing an additional 215,452 shares in the last quarter. American Century Companies Inc. increased its position in shares of Matson by 4.2% during the second quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock valued at $119,422,000 after acquiring an additional 36,901 shares in the last quarter. First Trust Advisors LP increased its position in shares of Matson by 25.5% during the fourth quarter. First Trust Advisors LP now owns 293,163 shares of the shipping company’s stock valued at $32,131,000 after acquiring an additional 59,652 shares in the last quarter. LSV Asset Management raised its holdings in Matson by 18.1% in the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after acquiring an additional 43,324 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in Matson by 3,509.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock valued at $21,233,000 after acquiring an additional 183,676 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Shares of NYSE:MATX opened at $141.93 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $144.90. The stock has a market capitalization of $4.96 billion, a PE ratio of 16.74 and a beta of 1.07. The firm’s 50 day moving average price is $132.59 and its 200-day moving average price is $122.45.

Matson (NYSE:MATX) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.05 by $0.26. The firm had revenue of $847.40 million for the quarter, compared to the consensus estimate of $861.68 million. Matson had a return on equity of 13.87% and a net margin of 10.41%. Equities research analysts expect that Matson, Inc. will post 11.45 EPS for the current year.

Insiders Place Their Bets

In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Matson news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the sale, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at $29,546,006.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,592 shares of company stock worth $11,389,694. Corporate insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens boosted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Matson 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.