VIRGINIA RETIREMENT SYSTEMS ET Al Sells 4,400 Shares of Matson, Inc. $MATX

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in Matson, Inc. (NYSE:MATX) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the shipping company’s stock after selling 4,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Matson were worth $988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after acquiring an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Matson by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after purchasing an additional 863 shares in the last quarter. Millennium Management LLC raised its position in Matson by 7.1% in the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after purchasing an additional 6,778 shares during the last quarter. NewEdge Advisors LLC bought a new position in Matson in the first quarter valued at about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after purchasing an additional 2,492 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Zacks Research upgraded Matson to a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Stephens boosted their target price 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, JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.

Insider Buying and Selling at Matson

In other Matson news, SVP John Warren Sullivan sold 3,331 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $180.14, for a total transaction of $600,046.34. Following the completion of the sale, the senior vice president directly owned 9,547 shares in the company, valued at approximately $1,719,796.58. This trade represents a 25.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bradley D. Tilden sold 1,594 shares of Matson stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $181.85, for a total value of $289,868.90. Following the completion of the transaction, the director directly owned 7,555 shares of the company’s stock, valued at approximately $1,373,876.75. This trade represents a 17.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 60,993 shares of company stock valued at $10,360,506. 2.51% of the stock is owned by corporate insiders.

Matson Stock Performance

NYSE:MATX opened at $179.56 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $189.99. The company has a 50 day simple moving average of $167.87 and a two-hundred day simple moving average of $144.98. The company has a market capitalization of $5.43 billion, a PE ratio of 13.19 and a beta of 1.30.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the company earned $2.18 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be issued a $0.36 dividend. The ex-dividend date is Thursday, May 7th. This represents a $1.44 annualized dividend and a yield of 0.8%. Matson’s payout ratio is presently 10.58%.

Matson Company 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.