ProShare Advisors LLC Reduces Position in Matson, Inc. (NYSE:MATX)

ProShare Advisors LLC lessened its stake in shares of Matson, Inc. (NYSE:MATX) by 16.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,591 shares of the shipping company’s stock after selling 11,992 shares during the period. ProShare Advisors LLC owned approximately 0.18% of Matson worth $8,198,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in Matson during the 2nd quarter worth approximately $27,000. Redwood Wealth Management Group LLC purchased a new stake in Matson during the 2nd quarter worth approximately $34,000. Security National Bank purchased a new stake in shares of Matson in the 4th quarter valued at $36,000. International Assets Investment Management LLC purchased a new stake in shares of Matson in the 2nd quarter valued at $39,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Matson in the 1st quarter valued at $71,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

MATX opened at $142.64 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a fifty day moving average price of $131.84 and a 200 day moving average price of $121.84. Matson, Inc. has a 1 year low of $82.68 and a 1 year high of $143.06. The stock has a market cap of $4.98 billion, a P/E ratio of 16.82 and a beta of 1.07.

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

Matson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were paid a $0.34 dividend. This is a boost from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s payout ratio is currently 16.04%.

Insiders Place Their Bets

In other Matson news, SVP Laura L. Rascon sold 744 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now directly owns 12,369 shares in the company, valued at $1,597,208.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Matson news, SVP Laura L. Rascon sold 744 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now directly owns 12,369 shares in the company, valued at $1,597,208.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard S. Kinney sold 1,615 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total transaction of $215,796.30. Following the transaction, the senior vice president now owns 7,973 shares of the company’s stock, valued at $1,065,352.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,376 shares of company stock worth $13,565,120. Company insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of several recent research reports. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens upped their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

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.