Strs Ohio Has $1.29 Million Holdings in Matson, Inc. (NYSE:MATX)

Strs Ohio cut its holdings in Matson, Inc. (NYSE:MATX) by 10.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,800 shares of the shipping company’s stock after selling 1,400 shares during the period. Strs Ohio’s holdings in Matson were worth $1,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. grew its stake in Matson by 11.2% during the third quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after buying an additional 65,736 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Matson by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,500 shares of the shipping company’s stock worth $31,540,000 after buying an additional 13,591 shares in the last quarter. London Co. of Virginia grew its stake in Matson by 1.5% during the third quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock worth $26,966,000 after buying an additional 4,455 shares in the last quarter. Invesco Ltd. grew its stake in Matson by 12.6% during the third quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock worth $25,313,000 after buying an additional 31,833 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Matson during the third quarter worth about $14,074,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Trading Up 1.2 %

MATX opened at $107.48 on Tuesday. The company’s 50 day moving average is $110.29 and its 200-day moving average is $104.98. Matson, Inc. has a 1-year low of $61.51 and a 1-year high of $122.99. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.71 billion, a P/E ratio of 12.83 and a beta of 1.12.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. Matson had a net margin of 9.60% and a return on equity of 12.71%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. Equities research analysts predict that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 8th were issued a $0.32 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.19%. Matson’s dividend payout ratio (DPR) is presently 15.27%.

Insider Activity at Matson

In related news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MATX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus raised their price target on shares of Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st.

Matson Company 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.