Baird Financial Group Inc. Decreases Stock Holdings in Matson, Inc. (NYSE:MATX)

Baird Financial Group Inc. reduced its stake in Matson, Inc. (NYSE:MATXGet Rating) by 8.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,438 shares of the shipping company’s stock after selling 563 shares during the quarter. Baird Financial Group Inc.’s holdings in Matson were worth $469,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Matson by 3.2% in the first quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock worth $802,830,000 after buying an additional 204,399 shares during the last quarter. Vanguard Group Inc. raised its stake in Matson by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock valued at $561,594,000 after acquiring an additional 153,723 shares during the period. Capital Research Global Investors lifted its holdings in Matson by 6.2% during the first quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock valued at $253,890,000 after purchasing an additional 122,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Matson by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,031,111 shares of the shipping company’s stock worth $245,002,000 after purchasing an additional 11,949 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Matson by 535.5% in the first quarter. Acadian Asset Management LLC now owns 471,235 shares of the shipping company’s stock worth $56,827,000 after purchasing an additional 397,078 shares in the last quarter. Institutional investors own 83.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wolfe Research upgraded shares of Matson from an “underperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Finally, Stifel Nicolaus decreased their price objective on Matson from $93.00 to $81.00 in a research note on Thursday, October 20th.

Matson Stock Performance

Matson stock opened at $64.93 on Tuesday. Matson, Inc. has a 1-year low of $60.35 and a 1-year high of $125.34. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.45 billion, a PE ratio of 1.91 and a beta of 1.33. The firm’s 50 day simple moving average is $68.06 and its 200 day simple moving average is $76.53.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, November 9th. Matson’s payout ratio is 3.65%.

Insider Buying and Selling

In other Matson news, EVP John P. Lauer sold 2,000 shares of Matson stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $68.41, for a total transaction of $136,820.00. Following the transaction, the executive vice president now directly owns 33,745 shares of the company’s stock, valued at $2,308,495.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Grace M. Cerocke sold 500 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $69.77, for a total transaction of $34,885.00. Following the completion of the sale, the senior vice president now directly owns 10,313 shares in the company, valued at approximately $719,538.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Lauer sold 2,000 shares of Matson stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $68.41, for a total value of $136,820.00. Following the completion of the transaction, the executive vice president now directly owns 33,745 shares in the company, valued at $2,308,495.45. The disclosure for this sale can be found here. Insiders sold 17,438 shares of company stock worth $1,223,148 in the last quarter. 1.90% of the stock is owned by insiders.

About Matson

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Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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