Allianz Asset Management GmbH Has $16.39 Million Stock Holdings in Matson, Inc. $MATX

Key Points

• Allianz Asset Management GmbH reduced its stake in Matson, Inc. by 29.5%, selling 61,554 shares and now holds 147,180 shares valued at approximately $16.39 million.
• Matson, Inc. reported earnings per share (EPS) of $2.92 for the last quarter, exceeding analysts' expectations of $2.18, despite a 2% decline in revenue year-over-year.
• Brokerage firms have set a consensus price target for Matson shares at $131.67, with ratings mostly classified as a "hold" by multiple analysts.

Allianz Asset Management GmbH cut its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 29.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,180 shares of the shipping company's stock after selling 61,554 shares during the period. Allianz Asset Management GmbH owned 0.45% of Matson worth $16,388,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Matson by 6.6% during the 1st quarter. American Century Companies Inc. now owns 1,158,834 shares of the shipping company's stock worth $148,528,000 after purchasing an additional 71,902 shares during the last quarter. Boston Partners increased its stake in shares of Matson by 424.8% during the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company's stock worth $121,428,000 after purchasing an additional 775,600 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Matson by 1.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 603,634 shares of the shipping company's stock worth $77,368,000 after purchasing an additional 6,135 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Matson by 10.9% during the 1st quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company's stock worth $59,188,000 after purchasing an additional 45,296 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Matson by 2.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 352,746 shares of the shipping company's stock worth $45,212,000 after buying an additional 6,747 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Performance

NYSE MATX opened at $94.34 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.00 billion, a P/E ratio of 6.38 and a beta of 1.21. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $169.12. The firm has a 50-day moving average price of $101.81 and a two-hundred day moving average price of $106.39.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.74. The firm had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.31 EPS. Analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on MATX. Jefferies Financial Group reaffirmed a "hold" rating and set a $115.00 target price on shares of Matson in a report on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Matson in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Matson from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $131.67.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the sale, the senior vice president owned 13,441 shares of the company's stock, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.05% of the stock is owned by corporate insiders.

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.

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