Principal Financial Group Inc. Has $18.24 Million Position in Matson, Inc. $MATX

Principal Financial Group Inc. trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,985 shares of the shipping company’s stock after selling 4,849 shares during the period. Principal Financial Group Inc. owned 0.58% of Matson worth $18,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MATX. William Blair Investment Management LLC acquired a new stake in shares of Matson in the 2nd quarter valued at approximately $21,037,000. Ameriprise Financial Inc. boosted its holdings in shares of Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after acquiring an additional 128,994 shares during the period. Qube Research & Technologies Ltd increased its position in Matson by 79.3% during the second quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock worth $24,123,000 after acquiring an additional 95,796 shares during the period. Norges Bank bought a new position in Matson during the 2nd quarter worth $10,199,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Matson during the second quarter worth about $9,481,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MATX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Stephens raised their price target on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Finally, Wolfe Research reiterated an “outperform” rating and set a $167.00 price objective on shares of Matson in a report on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $156.25.

Matson Price Performance

Shares of NYSE:MATX opened at $163.36 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 12.43 and a beta of 1.35. The company’s fifty day moving average price is $134.82 and its 200-day moving average price is $114.36. Matson, Inc. has a one year low of $86.97 and a one year high of $169.20.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson’s dividend payout ratio is presently 10.96%.

Matson Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.