Matson, Inc. (NYSE:MATX) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund reduced its stake in Matson, Inc. (NYSE:MATX – Get Rating) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,400 shares of the shipping company’s stock after selling 2,638 shares during the quarter. Texas Permanent School Fund owned 0.07% of Matson worth $1,588,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its stake in Matson by 300.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 441 shares of the shipping company’s stock worth $27,000 after buying an additional 331 shares during the period. Glass Jacobson Investment Advisors llc purchased a new stake in Matson during the 4th quarter worth approximately $28,000. Ellevest Inc. increased its stake in Matson by 124.9% during the 3rd quarter. Ellevest Inc. now owns 650 shares of the shipping company’s stock worth $40,000 after buying an additional 361 shares during the period. Ronald Blue Trust Inc. increased its stake in Matson by 115.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 803 shares of the shipping company’s stock worth $49,000 after buying an additional 431 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in Matson during the 3rd quarter worth approximately $56,000. 83.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Kevin L. Stuck sold 2,760 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $67.48, for a total transaction of $186,244.80. Following the completion of the sale, the vice president now owns 4,568 shares in the company, valued at approximately $308,248.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Kevin L. Stuck sold 2,760 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $67.48, for a total transaction of $186,244.80. Following the completion of the sale, the vice president now owns 4,568 shares in the company, valued at approximately $308,248.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark H. Fukunaga purchased 1,573 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average price of $63.59 per share, with a total value of $100,027.07. Following the purchase, the director now owns 24,297 shares in the company, valued at $1,545,046.23. The disclosure for this purchase can be found here. Insiders sold a total of 18,941 shares of company stock worth $1,219,363 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the topic of several recent research reports. Stifel Nicolaus cut their target price on shares of Matson from $73.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, April 20th. StockNews.com began coverage on shares of Matson in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Stephens dropped their price objective on shares of Matson from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd.

Matson Trading Up 0.4 %

Shares of NYSE:MATX opened at $65.21 on Friday. The company’s 50 day moving average is $62.57 and its two-hundred day moving average is $64.57. Matson, Inc. has a 52 week low of $56.51 and a 52 week high of $95.51. The company has a current ratio of 1.06, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.35 billion, a PE ratio of 3.36 and a beta of 1.16.

Matson (NYSE:MATX – Get Rating) last issued its earnings results on Thursday, May 4th. The shipping company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. Matson had a net margin of 19.54% and a return on equity of 33.72%. The business had revenue of $704.80 million during the quarter, compared to analysts’ expectations of $704.34 million. During the same quarter in the prior year, the business posted $8.23 EPS. The company’s revenue for the quarter was down 39.5% on a year-over-year basis. Equities analysts predict that Matson, Inc. will post 4.34 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, May 10th. Matson’s dividend payout ratio is currently 6.39%.

About Matson

(Get Rating)

Matson, Inc is a holding company, which engages in the provision of logistics and transportation services. It operates through the Ocean Transportation and Logistics segments. The Ocean Transportation segment offers ocean freight transportation, container stevedoring, refrigerated cargo services, inland transportation, and other terminal services.