Public Sector Pension Investment Board Has $10.16 Million Stock Holdings in Matson, Inc. (NYSE:MATX)

Public Sector Pension Investment Board lowered its position in shares of Matson, Inc. (NYSE:MATX) by 5.2% in the third quarter, HoldingsChannel reports. The fund owned 71,252 shares of the shipping company’s stock after selling 3,900 shares during the period. Public Sector Pension Investment Board’s holdings in Matson were worth $10,162,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MATX. Price T Rowe Associates Inc. MD boosted its position in Matson by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company’s stock worth $3,058,000 after acquiring an additional 1,214 shares during the last quarter. Tidal Investments LLC boosted its position in Matson by 8.7% during the 1st quarter. Tidal Investments LLC now owns 21,271 shares of the shipping company’s stock worth $2,391,000 after acquiring an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Matson during the 1st quarter worth approximately $71,000. CWM LLC boosted its position in Matson by 58.1% during the 2nd quarter. CWM LLC now owns 664 shares of the shipping company’s stock worth $87,000 after acquiring an additional 244 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Matson by 2.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 25,032 shares of the shipping company’s stock worth $3,278,000 after acquiring an additional 715 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Trading Down 2.5 %

NYSE MATX opened at $153.08 on Friday. The company has a market cap of $5.08 billion, a PE ratio of 12.74 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12 month low of $93.75 and a 12 month high of $169.12. The stock has a 50 day moving average of $145.76 and a 200-day moving average of $133.76.

Matson (NYSE:MATX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, beating 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 business had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter in the prior year, the business earned $3.40 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Insider Activity at Matson

In related news, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the transaction, the senior vice president now owns 9,392 shares in the company, valued at approximately $1,274,776.16. This trade represents a 9.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,145 shares of company stock worth $2,649,185. Company insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MATX shares. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

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.