New York State Teachers Retirement System Sells 2,008 Shares of Matson, Inc. (NYSE:MATX)

New York State Teachers Retirement System reduced its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,446 shares of the shipping company's stock after selling 2,008 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Matson worth $6,937,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake in shares of Matson by 9.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock worth $141,551,000 after acquiring an additional 91,172 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Matson by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company's stock worth $56,437,000 after acquiring an additional 20,568 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock worth $40,927,000 after acquiring an additional 26,366 shares in the last quarter. Paradiem LLC grew its stake in shares of Matson by 2.2% in the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock valued at $12,140,000 after buying an additional 1,909 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Matson in the fourth quarter valued at $9,788,000. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

Matson stock traded down $0.14 during mid-day trading on Friday, hitting $142.68. 126,245 shares of the company's stock traded hands, compared to its average volume of 254,587. The firm has a 50 day simple moving average of $139.56 and a two-hundred day simple moving average of $140.64. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 11.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, February 6th. Matson's dividend payout ratio is currently 11.31%.

Wall Street Analyst Weigh In

MATX has been the subject of several analyst reports. Stephens reissued an "overweight" rating and issued a $165.00 target price on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th.

Matson Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.