Algert Global LLC Cuts Holdings in Matson, Inc. (NYSE:MATX)

Algert Global LLC decreased its position in Matson, Inc. (NYSE:MATX) by 3.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,585 shares of the shipping company’s stock after selling 2,453 shares during the period. Algert Global LLC owned about 0.23% of Matson worth $10,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. Norges Bank purchased a new stake in shares of Matson during the fourth quarter worth about $10,295,000. UBS Group AG increased its stake in shares of Matson by 29.3% during the fourth quarter. UBS Group AG now owns 57,453 shares of the shipping company’s stock worth $6,297,000 after purchasing an additional 13,021 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Matson by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 29,783 shares of the shipping company’s stock worth $3,264,000 after purchasing an additional 4,043 shares in the last quarter. Fiduciary Trust Co purchased a new stake in shares of Matson during the fourth quarter worth about $208,000. Finally, RK Capital Management LLC increased its stake in shares of Matson by 19.9% during the fourth quarter. RK Capital Management LLC now owns 112,490 shares of the shipping company’s stock worth $12,329,000 after purchasing an additional 18,690 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Up 0.2 %

Shares of NYSE MATX opened at $141.93 on Friday. Matson, Inc. has a 12-month low of $82.68 and a 12-month high of $144.90. The stock has a market cap of $4.96 billion, a PE ratio of 16.74 and a beta of 1.07. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $132.59 and a 200 day moving average of $122.36.

Matson (NYSE:MATX) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.26. The company had revenue of $847.40 million for the quarter, compared to analyst estimates of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.87%. As a group, sell-side analysts predict that Matson, Inc. will post 11.45 EPS for the current fiscal year.

Insider Buying and Selling at Matson

In other Matson news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.17, for a total value of $1,028,775.00. Following the transaction, the chief executive officer now directly owns 215,397 shares in the company, valued at approximately $29,546,006.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matson news, CFO Joel M. Wine sold 12,821 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $123.24, for a total value of $1,580,060.04. Following the transaction, the chief financial officer now directly owns 126,418 shares in the company, valued at approximately $15,579,754.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Cox sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares in the company, valued at $29,546,006.49. The disclosure for this sale can be found here. Insiders have sold 87,592 shares of company stock worth $11,389,694 in the last ninety days. 2.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note 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 research note 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.