Los Angeles Capital Management LLC Sells 5,900 Shares of Matson, Inc. (NYSE:MATX)

Los Angeles Capital Management LLC trimmed its position in shares of Matson, Inc. (NYSE:MATX) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,637 shares of the shipping company’s stock after selling 5,900 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Matson were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC bought a new stake in Matson during the third quarter valued at about $14,074,000. American Century Companies Inc. lifted its holdings in Matson by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after purchasing an additional 65,736 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Matson during the third quarter valued at approximately $4,347,000. Allspring Global Investments Holdings LLC raised its position in shares of Matson by 170.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 70,561 shares of the shipping company’s stock valued at $6,260,000 after buying an additional 44,477 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of Matson during the fourth quarter worth $4,709,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Stock Up 0.3 %

NYSE MATX opened at $112.02 on Wednesday. Matson, Inc. has a 52 week low of $64.21 and a 52 week high of $122.99. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 13.21 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $108.68 and a two-hundred day moving average of $106.55.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The firm had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. During the same period last year, the company earned $0.94 EPS. Matson’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Matson, Inc. will post 8.51 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. Matson’s dividend payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MATX. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Christopher A. Scott sold 1,171 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the sale, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Leonard P. Isotoff sold 2,800 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $112.48, for a total transaction of $314,944.00. Following the transaction, the senior vice president now owns 4,746 shares in the company, valued at $533,830.08. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company’s stock.

Matson 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.