Matson, Inc. $MATX Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,857 shares of the shipping company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Matson were worth $5,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Matson by 6.6% during the 1st quarter. American Century Companies Inc. now owns 1,158,834 shares of the shipping company’s stock valued at $148,528,000 after acquiring an additional 71,902 shares during the last quarter. Boston Partners increased its stake in shares of Matson by 424.8% during the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock valued at $121,428,000 after acquiring an additional 775,600 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Matson by 1.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 603,634 shares of the shipping company’s stock valued at $77,368,000 after acquiring an additional 6,135 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of 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 acquiring an additional 45,296 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Matson by 2.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 352,746 shares of the shipping company’s stock valued at $45,212,000 after acquiring an additional 6,747 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president owned 13,441 shares in the company, valued at $1,477,703.54. This represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.05% of the stock is currently owned by corporate insiders.

Matson Stock Down 0.2%

Shares of NYSE:MATX opened at $94.34 on Tuesday. 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, Inc. has a 1 year low of $86.97 and a 1 year high of $169.12. The stock has a market capitalization of $3.00 billion, a P/E ratio of 6.38 and a beta of 1.21. The stock has a 50-day simple moving average of $101.81 and a 200-day simple moving average of $106.39.

Matson (NYSE:MATX) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.74. The firm had revenue of $830.50 million during the quarter, compared to analysts’ expectations of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.Matson’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.31 EPS. Equities analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MATX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Matson in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 target price on shares of Matson in a report on Friday, August 1st. Finally, Zacks Research upgraded 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 given a Hold rating to the company’s stock. According to MarketBeat.com, Matson presently has an average rating of “Hold” and an average price target of $131.67.

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.