UBS Group AG Sells 63,241 Shares of Matson, Inc. $MATX

UBS Group AG cut its position in shares of Matson, Inc. (NYSE:MATX) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,733 shares of the shipping company’s stock after selling 63,241 shares during the quarter. UBS Group AG’s holdings in Matson were worth $11,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MATX. Linden Thomas Advisory Services LLC raised its stake in Matson by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after buying an additional 109 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Matson by 3.3% during the third quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock valued at $354,000 after buying an additional 116 shares during the last quarter. Federated Hermes Inc. raised its stake in Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. Xponance Inc. raised its stake in Matson by 6.1% during the third quarter. Xponance Inc. now owns 2,849 shares of the shipping company’s stock valued at $281,000 after buying an additional 165 shares during the last quarter. Finally, Amundi raised its stake in Matson by 3.1% during the third quarter. Amundi now owns 5,637 shares of the shipping company’s stock valued at $557,000 after buying an additional 168 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MATX shares. JPMorgan Chase & Co. started coverage on Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective for the company. Zacks Research upgraded Matson to a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Stephens lifted their price objective on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Matson currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Matson Stock Down 1.5%

MATX stock opened at $179.56 on Friday. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $189.99. The business has a fifty day moving average price of $167.87 and a 200-day moving average price of $144.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $5.43 billion, a P/E ratio of 13.19 and a beta of 1.30.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the previous year, the business earned $2.18 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be paid a $0.36 dividend. The ex-dividend date is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s payout ratio is currently 10.58%.

Insider Transactions at Matson

In other news, EVP Peter T. Heilmann sold 13,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total value of $2,150,980.00. Following the completion of the transaction, the executive vice president owned 32,679 shares in the company, valued at $5,407,067.34. The trade was a 28.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard S. Kinney sold 5,225 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $165.32, for a total value of $863,797.00. Following the sale, the senior vice president owned 6,746 shares of the company’s stock, valued at approximately $1,115,248.72. This trade represents a 43.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,993 shares of company stock valued at $10,360,506. Insiders own 2.51% of the company’s stock.

About Matson

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.