UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,734 Shares of Matson, Inc. $MATX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Matson, Inc. (NYSE:MATX) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,067 shares of the shipping company’s stock after selling 2,734 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Matson were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Matson in the second quarter valued at approximately $952,903,000. Millennium Management LLC raised its holdings in Matson by 144.9% during the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Matson in the 3rd quarter worth approximately $26,415,000. Bank of New York Mellon Corp acquired a new position in shares of Matson in the 2nd quarter worth approximately $50,637,000. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of Matson in the 2nd quarter valued at $45,796,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MATX has been the subject of several recent analyst reports. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Stephens upped their price target on shares of Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised Matson from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $232.33.

Insider Activity

In related news, SVP Leonard P. Isotoff sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total value of $260,375.00. Following the transaction, the senior vice president owned 6,527 shares of the company’s stock, valued at approximately $1,359,574.10. This trade represents a 16.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Sullivan sold 1,917 shares of Matson stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total value of $399,675.33. Following the transaction, the senior vice president owned 7,630 shares of the company’s stock, valued at $1,590,778.70. This trade represents a 20.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,462 shares of company stock valued at $2,695,832. 2.51% of the stock is currently owned by insiders.

Matson Price Performance

Shares of NYSE:MATX opened at $227.89 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The stock’s 50 day moving average is $214.24 and its 200-day moving average is $189.71. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 15.23 and a beta of 1.26.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.48. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. Matson’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.92 EPS. Sell-side analysts forecast that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were issued a dividend of $0.38 per share. This is an increase from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 6th. Matson’s dividend payout ratio is 10.16%.

Matson Company Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and related supply-chain services. Through its Matson Navigation subsidiary, the company transports containerized and non-containerized freight, automobiles, food, household goods, construction materials and other cargo.

Matson operates ocean transportation services connecting the U.S. mainland with Hawaii, Alaska and select destinations in the South Pacific and Micronesia. The company also provides expedited service between China and the United States and maintains logistics operations that support domestic and international freight movement.

Matson Logistics offers intermodal transportation, freight forwarding, warehousing, supply-chain management and other distribution services.