Teacher Retirement System of Texas Has $989,000 Holdings in Matson, Inc. $MATX

Teacher Retirement System of Texas decreased its stake in Matson, Inc. (NYSE:MATX) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,885 shares of the shipping company’s stock after selling 1,505 shares during the quarter. Teacher Retirement System of Texas’ holdings in Matson were worth $989,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MATX. Raymond James Financial Inc. boosted its stake in shares of Matson by 91.6% in the 1st quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company’s stock valued at $7,883,000 after purchasing an additional 29,400 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Matson by 8.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company’s stock valued at $12,390,000 after purchasing an additional 7,920 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Matson by 10.9% during the 1st quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock valued at $59,188,000 after purchasing an additional 45,296 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Matson in the second quarter valued at about $21,037,000. Finally, Virtu Financial LLC grew its stake in Matson by 230.6% during the first quarter. Virtu Financial LLC now owns 4,985 shares of the shipping company’s stock worth $639,000 after buying an additional 3,477 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Down 1.8%

Shares of MATX opened at $107.88 on Friday. The business’s fifty day moving average price is $100.11 and its two-hundred day moving average price is $106.01. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.29 and a beta of 1.32. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $169.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.99. The business had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.89 earnings per share. On average, analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 1.3%. Matson’s dividend payout ratio is presently 10.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price on shares of Matson in a research note on Friday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Matson in a research report on Wednesday. Stephens increased their target price on Matson from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Matson presently has an average rating of “Hold” and a consensus target price of $141.67.

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.