Teacher Retirement System of Texas Cuts Stake in Matson, Inc. (NYSE:MATX)

Teacher Retirement System of Texas lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 18.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,137 shares of the shipping company’s stock after selling 1,357 shares during the quarter. Teacher Retirement System of Texas’ holdings in Matson were worth $673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its stake in Matson by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after acquiring an additional 108 shares during the last quarter. U S Global Investors Inc. boosted its position in Matson by 13.4% in the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock valued at $109,000 after buying an additional 118 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Matson by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock worth $862,000 after buying an additional 128 shares during the period. Check Capital Management Inc. CA raised its position in Matson by 4.6% during the 4th quarter. Check Capital Management Inc. CA now owns 3,720 shares of the shipping company’s stock worth $408,000 after buying an additional 165 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Matson by 6.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, SVP Leonard P. Isotoff sold 2,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was 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 approximately $533,830.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Richard S. Kinney sold 1,792 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $115.11, for a total value of $206,277.12. Following the transaction, the senior vice president now owns 9,588 shares in the company, valued at $1,103,674.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Leonard P. Isotoff sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the sale, the senior vice president now owns 4,746 shares of the company’s stock, valued at $533,830.08. The disclosure for this sale can be found here. Insiders sold 6,656 shares of company stock worth $746,256 over the last three months. 2.32% of the stock is currently owned by corporate insiders.

Matson Stock Performance

Shares of NYSE MATX opened at $120.66 on Friday. The company has a market capitalization of $4.22 billion, a PE ratio of 14.23 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The company’s fifty day moving average price is $110.89 and its 200 day moving average price is $108.73. Matson, Inc. has a 1 year low of $67.97 and a 1 year high of $122.99.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.05. Matson had a net margin of 9.61% and a return on equity of 12.66%. The business had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that Matson, Inc. will post 8.74 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, May 8th. Matson’s payout ratio is currently 15.09%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MATX shares. Stephens reissued an “overweight” rating and set a $135.00 target price on shares of Matson in a report on Friday. StockNews.com cut Matson from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Stifel Nicolaus upped their target price on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

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.