Matson, Inc. $MATX Position Lessened by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in shares of Matson, Inc. (NYSE:MATX) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,946,740 shares of the shipping company’s stock after selling 36,053 shares during the period. Dimensional Fund Advisors LP owned 6.40% of Matson worth $319,133,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MATX. Vanguard Group Inc. lifted its holdings in shares of Matson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after buying an additional 21,516 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after buying an additional 128,994 shares during the last quarter. Millennium Management LLC increased its holdings in Matson by 144.9% in the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after buying an additional 269,310 shares during the last quarter. Morgan Stanley raised its position in Matson by 1.3% during the fourth quarter. Morgan Stanley now owns 430,292 shares of the shipping company’s stock valued at $53,163,000 after acquiring an additional 5,709 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Matson by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 269,691 shares of the shipping company’s stock valued at $33,320,000 after acquiring an additional 12,654 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Matson

In related news, EVP Peter T. Heilmann sold 7,173 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the transaction, the executive vice president directly owned 25,506 shares in the company, valued at approximately $4,595,926.14. This trade represents a 21.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Grace M. Cerocke sold 1,200 shares of Matson stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the transaction, the senior vice president owned 17,986 shares in the company, valued at $3,301,690.02. This trade represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,963 shares of company stock worth $4,349,268 in the last quarter. 2.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on MATX shares. Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. started coverage on shares of Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.25.

Matson Stock Down 1.4%

Shares of MATX stock opened at $216.16 on Thursday. The stock’s 50 day simple moving average is $195.95 and its 200 day simple moving average is $173.56. 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 twelve month low of $86.97 and a twelve month high of $230.74. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 15.88 and a beta of 1.28.

Matson (NYSE:MATX) last announced its 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 return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the prior year, the business earned $2.18 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts predict that Matson, Inc. will post 14.16 EPS for the current year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a $0.38 dividend. The ex-dividend date is Thursday, August 6th. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Matson’s dividend 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.