QRG Capital Management Inc. Sells 2,013 Shares of Matson, Inc. (NYSE:MATX)

QRG Capital Management Inc. reduced its holdings in Matson, Inc. (NYSE:MATX) by 37.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,361 shares of the shipping company’s stock after selling 2,013 shares during the quarter. QRG Capital Management Inc.’s holdings in Matson were worth $453,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Natixis Advisors LLC grew its holdings in Matson by 0.5% in the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after buying an additional 78 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock valued at $2,244,000 after acquiring an additional 80 shares during the period. Inspire Investing LLC grew its stake in shares of Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock worth $401,000 after acquiring an additional 85 shares during the last quarter. Caprock Group LLC increased its position in Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after acquiring an additional 91 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after purchasing an additional 107 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Up 2.0 %

MATX opened at $138.07 on Thursday. The company has a market capitalization of $4.59 billion, a P/E ratio of 11.49 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s fifty day moving average price is $139.68 and its two-hundred day moving average price is $141.44. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12.

Matson (NYSE:MATX) last issued its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. On average, analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Matson’s payout ratio is presently 9.69%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MATX. Stephens raised their price target on shares of Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus boosted their price target on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th.

About Matson

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.