UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Matson, Inc. $MATX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Matson, Inc. (NYSE:MATX) by 16.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,067 shares of the shipping company’s stock after selling 2,734 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Matson were worth $2,704,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of Matson in the 2nd quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of Matson during the second quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matson during the third quarter valued at about $30,000. SouthState Bank Corp purchased a new position in Matson during the fourth quarter worth about $31,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after purchasing an additional 94 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Matson

In related news, SVP Kuuhaku T. Park sold 1,000 shares of Matson stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total value of $208,490.00. Following the completion of the sale, the senior vice president owned 9,984 shares of the company’s stock, valued at approximately $2,081,564.16. This trade represents a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter T. Heilmann sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the sale, the executive vice president directly owned 20,506 shares in the company, valued at approximately $4,514,395.90. This trade represents a 19.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,462 shares of company stock valued at $2,695,832. 2.51% of the stock is currently owned by insiders.

Matson Stock Up 0.5%

Matson stock opened at $227.89 on Friday. The firm has a 50 day moving average price of $214.24 and a 200-day moving average price of $189.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. 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 $6.81 billion, a P/E ratio of 15.23 and a beta of 1.26.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The company had revenue of $969.40 million for the quarter, compared to analysts’ expectations of $893.91 million. During the same quarter in the previous year, the firm posted $2.92 EPS. Matson’s revenue was up 16.7% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th were given a $0.38 dividend. This is an increase from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 6th. Matson’s dividend payout ratio (DPR) is 10.16%.

Analyst Ratings Changes

Several equities research analysts have commented on MATX shares. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research raised Matson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Stephens raised their target price on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, Matson currently has a consensus rating of “Buy” and an average price target of $232.33.

Matson Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and related supply-chain services. Through its Matson Navigation subsidiary, the company transports containerized and non-containerized freight, automobiles, food, household goods, construction materials and other cargo.

Matson operates ocean transportation services connecting the U.S. mainland with Hawaii, Alaska and select destinations in the South Pacific and Micronesia. The company also provides expedited service between China and the United States and maintains logistics operations that support domestic and international freight movement.

Matson Logistics offers intermodal transportation, freight forwarding, warehousing, supply-chain management and other distribution services.