Prudential Financial Inc. lowered its position in Matson Inc (NYSE:MATX) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,347 shares of the shipping company’s stock after selling 12,450 shares during the period. Prudential Financial Inc. owned approximately 0.19% of Matson worth $3,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MATX. Geode Capital Management LLC boosted its position in Matson by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 444,885 shares of the shipping company’s stock valued at $14,245,000 after buying an additional 31,971 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Matson by 287.5% in the first quarter. BNP Paribas Arbitrage SA now owns 9,818 shares of the shipping company’s stock valued at $354,000 after acquiring an additional 7,284 shares during the period. Rhumbline Advisers lifted its holdings in Matson by 0.7% in the first quarter. Rhumbline Advisers now owns 123,792 shares of the shipping company’s stock valued at $4,468,000 after acquiring an additional 900 shares during the period. Comerica Bank lifted its holdings in Matson by 4.0% in the first quarter. Comerica Bank now owns 57,208 shares of the shipping company’s stock valued at $2,185,000 after acquiring an additional 2,193 shares during the period. Finally, Texas Permanent School Fund lifted its holdings in Matson by 4.1% in the first quarter. Texas Permanent School Fund now owns 29,078 shares of the shipping company’s stock valued at $1,049,000 after acquiring an additional 1,132 shares during the period. Hedge funds and other institutional investors own 87.39% of the company’s stock.

NYSE:MATX traded down $0.06 during trading hours on Monday, reaching $40.74. The company had a trading volume of 1,827 shares, compared to its average volume of 138,023. Matson Inc has a 1-year low of $30.60 and a 1-year high of $42.15. The firm has a market cap of $1.73 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 3.85 and a beta of 1.62. The business’s 50 day moving average price is $37.16 and its 200-day moving average price is $37.44. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.68 and a quick ratio of 0.68.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, August 7th. The shipping company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.20). The business had revenue of $557.90 million for the quarter, compared to analyst estimates of $577.55 million. Matson had a return on equity of 12.30% and a net margin of 4.15%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. On average, analysts expect that Matson Inc will post 2.01 earnings per share for the current fiscal year.

A number of research analysts have issued reports on MATX shares. ValuEngine raised Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research downgraded Matson from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Matson presently has a consensus rating of “Hold” and an average target price of $40.25.

In other news, CEO Matthew J. Cox sold 23,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $37.54, for a total transaction of $882,190.00. Following the completion of the transaction, the chief executive officer now directly owns 244,742 shares of the company’s stock, valued at approximately $9,187,614.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.14, for a total value of $565,754.00. Following the transaction, the insider now directly owns 43,926 shares of the company’s stock, valued at $1,543,559.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,600 shares of company stock valued at $2,586,144. Corporate insiders own 2.00% of the company’s stock.

About Matson

Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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