JPMorgan Chase & Co. Sells 77,552 Shares of Matson, Inc. $MATX

JPMorgan Chase & Co. lowered its position in shares of Matson, Inc. (NYSE:MATX) by 32.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 159,461 shares of the shipping company’s stock after selling 77,552 shares during the period. JPMorgan Chase & Co. owned about 0.50% of Matson worth $15,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Matson by 4.9% during the second quarter. American Century Companies Inc. now owns 1,215,407 shares of the shipping company’s stock valued at $135,336,000 after purchasing an additional 56,573 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares during the last quarter. LSV Asset Management boosted its position in Matson by 6.5% during the 2nd quarter. LSV Asset Management now owns 317,422 shares of the shipping company’s stock worth $35,345,000 after buying an additional 19,508 shares during the period. Qube Research & Technologies Ltd boosted its position in Matson by 79.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company’s stock worth $24,123,000 after buying an additional 95,796 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Matson by 37.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company’s stock worth $12,541,000 after acquiring an additional 34,631 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MATX shares. Wolfe Research reaffirmed an “outperform” rating and set a $167.00 price target on shares of Matson in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Finally, Stephens upped their price target on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $156.25.

Matson Price Performance

MATX stock opened at $168.37 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 12.08 and a beta of 1.32. The company’s fifty day simple moving average is $150.39 and its 200 day simple moving average is $121.20. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The firm had revenue of $851.90 million during the quarter, compared to analyst estimates of $847.30 million. During the same period last year, the company posted $3.80 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s dividend payout ratio (DPR) is 10.33%.

Matson 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.