Matson, Inc. (NYSE:MATX) Stock Position Lowered by Profund Advisors LLC

Profund Advisors LLC lessened its position in Matson, Inc. (NYSE:MATX) by 9.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,807 shares of the shipping company’s stock after selling 194 shares during the period. Profund Advisors LLC’s holdings in Matson were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. grew its holdings in shares of Matson by 5.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after acquiring an additional 114 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Matson by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after acquiring an additional 124 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Matson by 4.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after acquiring an additional 131 shares during the last quarter. Measured Wealth Private Client Group LLC grew its holdings in shares of Matson by 6.4% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after acquiring an additional 140 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Matson by 0.9% in the 2nd quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company’s stock worth $2,569,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In related news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the completion of the sale, the chief financial officer now owns 126,418 shares of the company’s stock, valued at $15,579,754.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joel M. Wine sold 12,821 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at approximately $15,579,754.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,592 shares of company stock valued at $11,389,694. Insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MATX. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens lifted their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

Matson Stock Performance

Shares of MATX stock opened at $141.93 on Friday. Matson, Inc. has a 1-year low of $82.68 and a 1-year high of $144.90. 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 market capitalization of $4.96 billion, a price-to-earnings ratio of 16.74 and a beta of 1.07. The stock’s fifty day simple moving average is $132.59 and its 200-day simple moving average is $122.36.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $861.68 million. On average, sell-side analysts predict that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

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.