California State Teachers Retirement System Sells 301 Shares of Matson, Inc. (NYSE:MATX)

California State Teachers Retirement System lowered its stake in Matson, Inc. (NYSE:MATX) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,635 shares of the shipping company’s stock after selling 301 shares during the period. California State Teachers Retirement System’s holdings in Matson were worth $1,299,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Campbell Deegan Wealth Management LLC bought a new position in shares of Matson in the fourth quarter worth $524,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Matson in the fourth quarter worth $3,502,000. Brucke Financial Inc. bought a new position in shares of Matson in the fourth quarter worth $352,000. Leigh Baldwin & CO. LLC bought a new position in Matson in the fourth quarter valued at about $259,000. Finally, Ameriflex Group Inc. bought a new position in Matson in the fourth quarter valued at about $36,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, SVP Leonard P. Isotoff sold 500 shares of Matson stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total value of $55,735.00. Following the transaction, the senior vice president now directly owns 5,644 shares of the company’s stock, valued at $629,136.68. The trade was a 8.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley D. Tilden acquired 2,752 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the completion of the purchase, the director now owns 8,180 shares of the company’s stock, valued at $914,196.80. This trade represents a 50.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.05% of the stock is owned by insiders.

Matson Stock Performance

Shares of MATX stock opened at $114.48 on Tuesday. The business’s 50-day moving average price is $107.52 and its 200-day moving average price is $128.33. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 9.52 and a beta of 1.31. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. Equities research analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 8th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, May 8th. Matson’s dividend payout ratio is currently 8.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MATX shares. Stephens decreased their target price on Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group lifted their price target on Matson from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus cut their price target on Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $138.33.

Matson 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.