Public Sector Pension Investment Board Trims Stake in Matson, Inc. (NYSE:MATX)

Public Sector Pension Investment Board lowered its position in Matson, Inc. (NYSE:MATX - Free Report) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,252 shares of the shipping company's stock after selling 3,900 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Matson worth $10,162,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in shares of Matson in the second quarter worth $27,000. Redwood Wealth Management Group LLC bought a new position in shares of Matson during the 2nd quarter valued at about $34,000. International Assets Investment Management LLC purchased a new position in shares of Matson during the second quarter valued at about $39,000. Harbor Capital Advisors Inc. bought a new stake in shares of Matson in the third quarter worth about $50,000. Finally, Blue Trust Inc. lifted its position in shares of Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company's stock worth $78,000 after buying an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Trading Up 0.2 %

NYSE MATX traded up $0.23 during trading hours on Friday, hitting $153.31. 124,024 shares of the company were exchanged, compared to its average volume of 273,931. Matson, Inc. has a 52 week low of $93.94 and a 52 week high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $146.14 and a 200 day moving average price of $134.02. The stock has a market cap of $5.09 billion, a PE ratio of 12.75 and a beta of 1.06.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million during the quarter, compared to analysts' expectations of $965.73 million. During the same quarter in the previous year, the business earned $3.40 EPS. The company's quarterly revenue was up 16.3% on a year-over-year basis. Analysts forecast that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. Matson's dividend payout ratio (DPR) is presently 11.31%.

Analysts Set New Price Targets

Several research firms have weighed in on MATX. Wolfe Research cut Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. StockNews.com lowered shares of Matson from a "strong-buy" rating to a "buy" rating in a report on Friday, September 6th. Finally, Stephens upped their price target on shares of Matson from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd.

Insider Buying and Selling

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Warren Sullivan sold 750 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,145 shares of company stock valued at $2,649,185. Company insiders own 2.32% of the company's stock.

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.