California State Teachers Retirement System trimmed its position in shares of Matson, Inc. (NYSE:MATX) by 9.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 68,608 shares of the shipping company’s stock after selling 7,334 shares during the quarter. California State Teachers Retirement System’s holdings in Matson were worth $1,933,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Teachers Advisors LLC grew its stake in Matson by 0.8% during the second quarter. Teachers Advisors LLC now owns 75,128 shares of the shipping company’s stock worth $2,257,000 after buying an additional 609 shares during the last quarter. Victory Capital Management Inc. grew its stake in Matson by 8.1% during the second quarter. Victory Capital Management Inc. now owns 13,107 shares of the shipping company’s stock worth $394,000 after buying an additional 980 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in Matson by 5.6% during the second quarter. Thrivent Financial For Lutherans now owns 25,850 shares of the shipping company’s stock worth $777,000 after buying an additional 1,380 shares during the last quarter. Voya Investment Management LLC grew its stake in Matson by 7.5% during the second quarter. Voya Investment Management LLC now owns 20,585 shares of the shipping company’s stock worth $618,000 after buying an additional 1,436 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Matson by 89.2% during the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock worth $108,000 after buying an additional 1,695 shares during the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

In other news, President Ronald J. Forest sold 16,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total transaction of $482,856.48. Following the transaction, the president now directly owns 94,977 shares in the company, valued at $2,780,926.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Several analysts have weighed in on MATX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Matson in a research note on Thursday, September 21st. BidaskClub raised shares of Matson from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Wells Fargo & Co reiterated an “underperform” rating and set a $22.00 target price on shares of Matson in a research report on Monday, September 25th. Finally, Zacks Investment Research lowered shares of Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Matson has an average rating of “Hold” and a consensus price target of $28.00.

Matson, Inc. (NYSE:MATX) opened at $30.81 on Thursday. Matson, Inc. has a 12-month low of $21.63 and a 12-month high of $37.32. The stock has a market cap of $1,310.00, a P/E ratio of 15.88, a PEG ratio of 3.41 and a beta of 1.27. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.07.

Matson (NYSE:MATX) last announced its earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.20. Matson had a net margin of 4.12% and a return on equity of 17.49%. The company had revenue of $543.90 million for the quarter, compared to analyst estimates of $531.61 million. During the same period in the prior year, the business earned $0.59 earnings per share. Matson’s quarterly revenue was up 8.7% on a year-over-year basis. research analysts anticipate that Matson, Inc. will post 1.79 EPS for the current fiscal year.

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About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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