Matson, Inc. (NYSE:MATX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Matson, Inc. (NYSE:MATX) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,554 shares of the shipping company’s stock after selling 3,327 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Matson worth $6,308,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MATX. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Matson during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in Matson during the 3rd quarter worth $27,000. Blue Trust Inc. lifted its position in Matson by 109.6% in the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 217 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Matson in the fourth quarter valued at $53,000. Finally, U S Global Investors Inc. purchased a new position in shares of Matson during the third quarter worth about $78,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Stock Performance

NYSE MATX opened at $110.83 on Friday. The firm has a market cap of $3.82 billion, a P/E ratio of 13.23 and a beta of 1.12. Matson, Inc. has a 52-week low of $61.27 and a 52-week high of $122.99. The business’s 50-day moving average price is $111.54 and its 200 day moving average price is $103.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX) last announced its earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $2.10 EPS. On average, equities research analysts expect that Matson, Inc. will post 8.2 earnings per share for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 8th were paid a $0.32 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.28 annualized dividend and a yield of 1.15%. Matson’s dividend payout ratio is currently 15.27%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MATX shares. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus raised their target price on shares of Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st.

Insider Buying and Selling at Matson

In other news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the sale, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.32% of the stock is currently owned by corporate insiders.

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.