Strs Ohio Sells 9,300 Shares of Matson, Inc. $MATX

Strs Ohio reduced its stake in shares of Matson, Inc. (NYSE:MATX) by 91.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 900 shares of the shipping company’s stock after selling 9,300 shares during the quarter. Strs Ohio’s holdings in Matson were worth $89,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MATX. Hantz Financial Services Inc. increased its position in shares of Matson by 67.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 102 shares during the last quarter. Headlands Technologies LLC purchased a new position in Matson during the second quarter worth $28,000. IFP Advisors Inc boosted its stake in Matson by 42.6% during the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock worth $49,000 after buying an additional 132 shares during the period. NewEdge Advisors LLC bought a new position in Matson during the first quarter valued at $78,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Matson by 19.1% in the second quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock valued at $83,000 after acquiring an additional 120 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Wolfe Research restated an “outperform” rating and set a $167.00 target price on shares of Matson in a research report on Thursday, January 8th. Finally, Stephens upped their target price on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $156.25.

Matson Price Performance

Matson stock opened at $162.96 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 12.40 and a beta of 1.35. The firm has a 50-day moving average of $132.72 and a two-hundred day moving average of $113.54. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $169.20.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.99. The firm had revenue of $880.10 million during the quarter, compared to the consensus estimate of $837.72 million. Matson had a net margin of 12.70% and a return on equity of 16.23%. The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.89 earnings per share. On average, research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Matson’s dividend payout ratio is presently 10.96%.

Matson Company Profile

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.