Matson, Inc. (MATX) Holdings Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Matson, Inc. (NYSE:MATX) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,174 shares of the shipping company’s stock after selling 1,447 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Matson worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of MATX. UBS Asset Management Americas Inc. grew its position in shares of Matson by 6.8% in the first quarter. UBS Asset Management Americas Inc. now owns 13,995 shares of the shipping company’s stock valued at $444,000 after purchasing an additional 890 shares during the last quarter. FMR LLC grew its position in shares of Matson by 4.6% in the first quarter. FMR LLC now owns 20,300 shares of the shipping company’s stock valued at $645,000 after purchasing an additional 900 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Matson by 5.0% in the first quarter. Teachers Advisors LLC now owns 74,519 shares of the shipping company’s stock valued at $2,367,000 after purchasing an additional 3,574 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Matson by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after purchasing an additional 195,335 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Matson by 14.0% in the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 85.38% of the company’s stock.

In related news, Director Jeffrey N. Watanabe purchased 4,100 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $24.07 per share, with a total value of $98,687.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joel M. Wine purchased 6,100 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $24.07 per share, for a total transaction of $146,827.00. Following the purchase, the chief financial officer now owns 99,411 shares of the company’s stock, valued at $2,392,822.77. The disclosure for this purchase can be found here. Insiders have purchased 12,200 shares of company stock worth $292,734 in the last three months. Insiders own 2.60% of the company’s stock.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, August 3rd. BidaskClub lowered shares of Matson from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, August 18th. Wells Fargo & Company lowered shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research report on Friday, August 18th. Finally, Stephens downgraded shares of Matson from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $38.00 to $23.00 in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Matson presently has an average rating of “Hold” and an average target price of $27.25.

Matson, Inc. (NYSE MATX) opened at $27.03 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $1,166.04, a P/E ratio of 14.16, a P/E/G ratio of 3.13 and a beta of 1.23. Matson, Inc. has a one year low of $21.63 and a one year high of $40.26.

Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.20. The business had revenue of $543.90 million for the quarter, compared to the consensus estimate of $531.61 million. Matson had a net margin of 4.12% and a return on equity of 17.49%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. research analysts forecast that Matson, Inc. will post 1.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 8th. Matson’s payout ratio is 41.24%.

About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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