Allianz Asset Management GmbH Lowers Stock Position in Matson, Inc. $MATX

Allianz Asset Management GmbH cut its position in shares of Matson, Inc. (NYSE:MATX) by 59.6% during the 3rd quarter, Holdings Channel reports. The firm owned 59,454 shares of the shipping company’s stock after selling 87,726 shares during the quarter. Allianz Asset Management GmbH’s holdings in Matson were worth $5,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in shares of Matson by 67.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after buying an additional 102 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Matson by 3.3% during the third quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock worth $354,000 after acquiring an additional 116 shares during the period. Parkside Financial Bank & Trust boosted its position in Matson by 19.1% in the second quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock worth $83,000 after purchasing an additional 120 shares during the last quarter. IFP Advisors Inc grew its stake in Matson by 42.6% in the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 132 shares during the period. Finally, Federated Hermes Inc. grew its stake in Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MATX. Stephens lifted their target price on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $167.00 target price on shares of Matson in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $156.25.

Matson Stock Performance

NYSE MATX opened at $161.89 on Tuesday. The company’s 50 day moving average is $135.82 and its 200-day moving average is $114.74. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $169.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.05 billion, a P/E ratio of 12.32 and a beta of 1.35.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson’s payout ratio is presently 10.96%.

Matson Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.