Yousif Capital Management LLC Sells 275 Shares of Matson, Inc. (NYSE:MATX)

Yousif Capital Management LLC trimmed its position in Matson, Inc. (NYSE:MATX) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,399 shares of the shipping company’s stock after selling 275 shares during the period. Yousif Capital Management LLC’s holdings in Matson were worth $1,589,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its holdings in shares of Matson by 6.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 76,918 shares of the shipping company’s stock worth $9,859,000 after acquiring an additional 4,328 shares in the last quarter. Curat Global LLC bought a new stake in Matson during the first quarter valued at about $104,000. Breakwater Capital Group purchased a new stake in Matson in the first quarter valued at about $256,000. Chatham Capital Group Inc. raised its stake in Matson by 4.8% in the first quarter. Chatham Capital Group Inc. now owns 39,064 shares of the shipping company’s stock valued at $5,007,000 after buying an additional 1,775 shares during the last quarter. Finally, Arlington Financial Advisors LLC purchased a new position in Matson during the first quarter valued at approximately $244,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MATX has been the topic of several research analyst reports. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Stifel Nicolaus lowered 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. Stephens lowered their price target on Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective on shares of Matson in a research report on Wednesday, June 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.33.

Matson Price Performance

Matson stock opened at $111.80 on Tuesday. Matson, Inc. has a 12-month low of $91.75 and a 12-month high of $169.12. The stock has a market cap of $3.65 billion, a P/E ratio of 9.30 and a beta of 1.31. The company has a 50-day moving average price of $108.04 and a 200 day moving average price of $126.90. 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 the consensus estimate of $2.34 by ($0.16). Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. During the same period last year, the company earned $1.04 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 8th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, May 8th. Matson’s payout ratio is 8.96%.

Insider Buying and Selling

In other news, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction dated 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 owns 5,644 shares in the company, valued at approximately $629,136.68. This represents a 8.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total value of $200,923.00. Following the completion of the transaction, the senior vice president now owns 14,712 shares in the company, valued at approximately $1,738,811.28. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

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.