Sei Investments Co. Sells 2,591 Shares of Matson, Inc. (NYSE:MATX)

Sei Investments Co. reduced its stake in Matson, Inc. (NYSE:MATX) by 56.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995 shares of the shipping company’s stock after selling 2,591 shares during the period. Sei Investments Co.’s holdings in Matson were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MATX. Forest Avenue Capital Management LP grew its position in Matson by 30.6% during the fourth quarter. Forest Avenue Capital Management LP now owns 64,000 shares of the shipping company’s stock valued at $7,014,000 after buying an additional 15,000 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Matson by 35.8% in the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock valued at $2,172,000 after acquiring an additional 5,095 shares in the last quarter. LSV Asset Management lifted its stake in shares of Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after purchasing an additional 43,324 shares during the last quarter. PAX Financial Group LLC acquired a new position in Matson during the 1st quarter valued at about $605,000. Finally, Caxton Associates LP lifted its position in Matson by 283.4% during the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock worth $925,000 after acquiring an additional 6,085 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

Shares of NYSE MATX opened at $133.57 on Friday. Matson, Inc. has a 12 month low of $82.68 and a 12 month high of $144.93. The company has a market cap of $4.67 billion, a PE ratio of 15.75 and a beta of 1.07. The company has a 50-day simple moving average of $133.95 and a 200-day simple moving average of $124.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MATX shares. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens increased their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insiders Place Their Bets

In other news, CFO Joel M. Wine sold 11,444 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $128.65, for a total transaction of $1,472,270.60. Following the completion of the transaction, the chief financial officer now owns 114,974 shares of the company’s stock, valued at approximately $14,791,405.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Matson news, EVP Peter T. Heilmann sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $129.37, for a total transaction of $1,293,700.00. Following the completion of the sale, the executive vice president now directly owns 38,356 shares of the company’s stock, valued at approximately $4,962,115.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joel M. Wine sold 11,444 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $128.65, for a total value of $1,472,270.60. Following the completion of the sale, the chief financial officer now directly owns 114,974 shares of the company’s stock, valued at approximately $14,791,405.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,180 shares of company stock valued at $9,175,884. Company insiders own 2.32% of the company’s stock.

Matson Company 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.