LSV Asset Management Sells 4,700 Shares of Matson, Inc. $MATX

LSV Asset Management cut its position in Matson, Inc. (NYSE:MATX) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 307,822 shares of the shipping company’s stock after selling 4,700 shares during the period. LSV Asset Management’s holdings in Matson were worth $38,031,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. raised its position in Matson by 124.3% in the third 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 last quarter. Danske Bank A S bought a new position in Matson in the fourth quarter valued at about $25,000. Headlands Technologies LLC bought a new position in Matson in the second quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in Matson in the third quarter valued at about $30,000. Finally, Torren Management LLC bought a new position in Matson in the fourth quarter valued at about $34,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bradley D. Tilden sold 1,594 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $181.85, for a total transaction of $289,868.90. Following the sale, the director owned 7,555 shares in the company, valued at $1,373,876.75. This represents a 17.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter T. Heilmann sold 7,173 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the sale, the executive vice president owned 25,506 shares in the company, valued at approximately $4,595,926.14. The trade was a 21.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 62,513 shares of company stock valued at $10,635,702. Corporate insiders own 2.51% of the company’s stock.

Matson Trading Down 0.1%

Shares of MATX stock opened at $181.67 on Monday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 13.35 and a beta of 1.30. The stock has a 50-day moving average of $170.69 and a 200-day moving average of $148.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $190.00.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, equities research analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s dividend payout ratio is presently 10.58%.

Analysts Set New Price Targets

Several research firms have commented on MATX. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. JPMorgan Chase & Co. began coverage on Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price for the company. Finally, Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.25.

About Matson

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.