Matson, Inc. (MATX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Matson, Inc. (NYSE:MATX) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,608 shares of the shipping company’s stock after selling 7,334 shares during the period. California State Teachers Retirement System owned 0.16% of Matson worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MATX. Vanguard Group Inc. boosted its stake in shares of Matson by 2.1% during the second quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock worth $117,853,000 after buying an additional 79,971 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Matson by 0.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,825,204 shares of the shipping company’s stock worth $79,614,000 after buying an additional 14,674 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Matson by 45.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,244,912 shares of the shipping company’s stock worth $63,262,000 after buying an additional 701,610 shares during the period. State Street Corp boosted its stake in shares of Matson by 1.5% during the second quarter. State Street Corp now owns 1,079,551 shares of the shipping company’s stock worth $32,429,000 after buying an additional 15,869 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Matson by 2.8% during the second quarter. Northern Trust Corp now owns 548,652 shares of the shipping company’s stock worth $16,482,000 after buying an additional 14,761 shares during the period. Institutional investors own 84.85% of the company’s stock.

Shares of Matson, Inc. (MATX) traded up $0.11 during trading hours on Friday, reaching $34.42. 271,312 shares of the company were exchanged, compared to its average volume of 304,725. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $1,511.99, a P/E ratio of 18.36, a P/E/G ratio of 3.30 and a beta of 1.31. Matson, Inc. has a 1 year low of $21.63 and a 1 year high of $40.32.

Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. Matson had a net margin of 4.12% and a return on equity of 17.49%. The firm had revenue of $543.90 million during the quarter, compared to the consensus estimate of $531.61 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. analysts predict that Matson, Inc. will post 1.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.32%. Matson’s dividend payout ratio (DPR) is presently 41.24%.

Several brokerages have recently weighed in on MATX. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Thursday, February 1st. Wells Fargo & Co upgraded shares of Matson from an “underperform” rating to a “market perform” rating in a research report on Monday, January 29th. Seaport Global Securities upgraded shares of Matson from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, January 29th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 price objective (up previously from $32.00) on shares of Matson in a research report on Monday, January 29th. Finally, BidaskClub upgraded shares of Matson from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.60.

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Matson Profile

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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