Matson, Inc. $MATX Shares Sold by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd reduced its position in Matson, Inc. (NYSE:MATX) by 67.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,700 shares of the shipping company’s stock after selling 13,700 shares during the period. Quantedge Capital Pte Ltd’s holdings in Matson were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. lifted its position in shares of Matson by 91.6% in the first quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company’s stock valued at $7,883,000 after acquiring an additional 29,400 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Matson by 10.9% in the 1st quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock valued at $59,188,000 after purchasing an additional 45,296 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Matson in the 2nd quarter valued at about $21,037,000. Farther Finance Advisors LLC boosted its stake in shares of Matson by 42.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 877 shares of the shipping company’s stock worth $98,000 after purchasing an additional 262 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Matson by 230.6% during the 1st quarter. Virtu Financial LLC now owns 4,985 shares of the shipping company’s stock worth $639,000 after purchasing an additional 3,477 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MATX. Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a research report on Monday. Stephens boosted their price target on Matson from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wolfe Research upgraded Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price objective on the stock in a report on Friday, November 7th. Finally, Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $141.75.

Matson Stock Performance

NYSE:MATX opened at $116.32 on Wednesday. The company has a market cap of $3.63 billion, a P/E ratio of 8.85 and a beta of 1.33. The firm’s 50 day moving average is $102.60 and its two-hundred day moving average is $106.30. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $154.23. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.99. The business had revenue of $880.10 million during the quarter, compared to the consensus estimate of $837.72 million. Matson had a return on equity of 16.23% and a net margin of 12.70%.The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.89 EPS. Analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.44 annualized dividend and a yield of 1.2%. Matson’s dividend payout ratio is currently 10.96%.

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.