Matson, Inc. (NYSE:MATX) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,300 shares of the shipping company’s stock after selling 1,100 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Matson were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MATX. Natixis Advisors L.P. acquired a new position in shares of Matson during the 4th quarter valued at about $1,663,000. National Bank of Canada FI acquired a new position in shares of Matson during the 4th quarter valued at about $2,088,000. Jump Financial LLC purchased a new stake in Matson in the 4th quarter valued at about $263,000. Dimensional Fund Advisors LP raised its holdings in Matson by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock valued at $291,386,000 after buying an additional 43,846 shares during the period. Finally, USA Financial Formulas purchased a new stake in Matson in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 0.1 %

Shares of MATX opened at $125.49 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4.21 billion, a P/E ratio of 14.80 and a beta of 1.07. The company’s 50-day moving average price is $130.63 and its 200 day moving average price is $119.96. Matson, Inc. has a 12-month low of $82.68 and a 12-month high of $138.84.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. The company had revenue of $847.40 million for the quarter, compared to analyst estimates of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.87%. On average, sell-side analysts forecast that Matson, Inc. will post 10.49 earnings per share for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.08%. Matson’s dividend payout ratio is 16.04%.

Insiders Place Their Bets

In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the sale, the senior vice president now directly owns 9,392 shares in the company, valued at $1,274,776.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew J. Cox sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at $29,546,006.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the sale, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. The disclosure for this sale can be found here. Insiders have sold 104,376 shares of company stock worth $13,565,120 over the last three months. Company insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

MATX has been the topic of several research analyst reports. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday. Stephens boosted their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

About Matson

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.