Amundi Has $1.77 Million Stock Holdings in Matson, Inc. $MATX

Amundi lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 19.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,812 shares of the shipping company’s stock after selling 3,376 shares during the period. Amundi’s holdings in Matson were worth $1,770,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Ethic Inc. boosted its position in shares of Matson by 2.7% during the first quarter. Ethic Inc. now owns 4,092 shares of the shipping company’s stock worth $537,000 after purchasing an additional 108 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in shares of Matson by 5.2% during the first quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company’s stock worth $281,000 after purchasing an additional 109 shares in the last quarter. Xponance Inc. boosted its position in shares of Matson by 4.3% during the first quarter. Xponance Inc. now owns 2,767 shares of the shipping company’s stock worth $355,000 after purchasing an additional 113 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Matson by 4.6% during the first quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company’s stock worth $338,000 after purchasing an additional 117 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Matson by 11.7% during the first quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company’s stock worth $176,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 2.4%

Shares of MATX stock opened at $103.37 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12. The firm’s fifty day moving average price is $107.15 and its two-hundred day moving average price is $112.49. The firm has a market capitalization of $3.29 billion, a P/E ratio of 6.99 and a beta of 1.21.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm had revenue of $830.50 million for the quarter, compared to analyst estimates of $727.30 million. During the same period in the previous year, the business earned $3.31 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.4%. The ex-dividend date was Thursday, August 7th. This is an increase from Matson’s previous quarterly dividend of $0.34. Matson’s dividend payout ratio (DPR) is presently 9.74%.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Matson in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $131.67.

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.