Stifel Financial Corp Lowers Stake in Matson, Inc. (MATX)

Stifel Financial Corp cut its holdings in shares of Matson, Inc. (NYSE:MATX) by 27.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,843 shares of the shipping company’s stock after selling 9,630 shares during the quarter. Stifel Financial Corp owned 0.06% of Matson worth $747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Matson by 83,732.7% during the 1st quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after buying an additional 5,970,976 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Matson by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 58,587 shares of the shipping company’s stock valued at $1,759,000 after buying an additional 1,788 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Matson by 54.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,483 shares of the shipping company’s stock valued at $405,000 after buying an additional 4,737 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Matson by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock valued at $117,853,000 after buying an additional 79,971 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Matson by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 243,875 shares of the shipping company’s stock valued at $7,746,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

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In other news, CFO Joel M. Wine acquired 6,100 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $24.07 per share, for a total transaction of $146,827.00. Following the completion of the transaction, the chief financial officer now owns 99,411 shares in the company, valued at approximately $2,392,822.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas B. Fargo acquired 2,000 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $23.61 per share, for a total transaction of $47,220.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,200 shares of company stock worth $292,734. Company insiders own 2.60% of the company’s stock.

Several brokerages have recently issued reports on MATX. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, August 3rd. Stifel Nicolaus upgraded Matson from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, August 18th. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Wells Fargo & Company lowered Matson from a “market perform” rating to an “underperform” rating and set a $22.00 target price for the company. in a report on Friday, August 18th. Finally, Stephens lowered Matson from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $38.00 to $23.00 in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Matson currently has a consensus rating of “Hold” and a consensus price target of $27.25.

Matson, Inc. (NYSE:MATX) traded down $0.69 on Friday, reaching $27.47. The company had a trading volume of 342,800 shares, compared to its average volume of 243,748. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1,195.33, a price-to-earnings ratio of 14.52, a P/E/G ratio of 3.21 and a beta of 1.23. Matson, Inc. has a 12-month low of $21.63 and a 12-month high of $40.26.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, November 2nd. The shipping company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The company had revenue of $543.90 million for the quarter, compared to the consensus estimate of $531.61 million. Matson had a return on equity of 17.49% and a net margin of 4.12%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. research analysts expect that Matson, Inc. will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, November 8th. Matson’s dividend payout ratio is currently 41.24%.

About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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