Louisiana State Employees Retirement System Decreases Stock Position in Matson, Inc. (NYSE:MATX)

Louisiana State Employees Retirement System cut its holdings in Matson, Inc. (NYSE:MATX) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,200 shares of the shipping company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Matson were worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SummerHaven Investment Management LLC lifted its holdings in shares of Matson by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after buying an additional 124 shares in the last quarter. Paradiem LLC boosted its stake in Matson by 22.2% in the second quarter. Paradiem LLC now owns 86,162 shares of the shipping company’s stock worth $11,285,000 after buying an additional 15,660 shares in the last quarter. Raymond James & Associates grew its position in Matson by 17.9% during the second quarter. Raymond James & Associates now owns 18,877 shares of the shipping company’s stock valued at $2,472,000 after acquiring an additional 2,866 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after acquiring an additional 413 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in shares of Matson in the 2nd quarter worth approximately $27,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MATX shares. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stephens raised their price target on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st.

Insider Transactions at Matson

In other news, CEO Matthew J. Cox sold 7,843 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $130.54, for a total value of $1,023,825.22. Following the completion of the sale, the chief executive officer now directly owns 230,397 shares in the company, valued at approximately $30,076,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Matson news, CEO Matthew J. Cox sold 7,843 shares of Matson stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $130.54, for a total transaction of $1,023,825.22. Following the transaction, the chief executive officer now owns 230,397 shares of the company’s stock, valued at $30,076,024.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Laura L. Rascon sold 744 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the transaction, the senior vice president now owns 12,369 shares of the company’s stock, valued at approximately $1,597,208.97. The disclosure for this sale can be found here. Insiders have sold 95,876 shares of company stock worth $12,400,615 in the last quarter. Company insiders own 2.32% of the company’s stock.

Matson Stock Up 1.7 %

Shares of NYSE MATX traded up $2.30 during trading on Friday, reaching $134.85. The company had a trading volume of 51,051 shares, compared to its average volume of 266,992. Matson, Inc. has a 12-month low of $82.68 and a 12-month high of $137.29. The business’s 50-day moving average is $128.55 and its 200 day moving average is $118.61. The stock has a market cap of $4.71 billion, a PE ratio of 15.63 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 1st will be given a dividend of $0.34 per share. This is an increase from Matson’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, August 1st. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. Matson’s dividend payout ratio is 16.04%.

Matson 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.