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Allianz Asset Management GmbH Has $26.75 Million Stake in Matson, Inc. (NYSE:MATX)

Matson logo with Transportation background

Allianz Asset Management GmbH lowered its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 34.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,734 shares of the shipping company's stock after selling 108,771 shares during the quarter. Allianz Asset Management GmbH owned 0.64% of Matson worth $26,753,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MATX. Denali Advisors LLC acquired a new stake in Matson in the 1st quarter valued at about $351,000. Jennison Associates LLC acquired a new stake in shares of Matson during the 1st quarter worth about $872,000. Victory Capital Management Inc. boosted its stake in shares of Matson by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 53,081 shares of the shipping company's stock worth $6,803,000 after purchasing an additional 6,451 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Matson by 5.2% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock worth $281,000 after purchasing an additional 109 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Matson during the 1st quarter worth about $8,374,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Price Performance

Matson stock traded down $0.17 during midday trading on Thursday, hitting $108.77. The company's stock had a trading volume of 260,433 shares, compared to its average volume of 367,081. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The stock's 50-day moving average price is $111.85 and its 200-day moving average price is $121.19. The company has a market capitalization of $3.55 billion, a PE ratio of 7.17 and a beta of 1.28.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 14.72% and a return on equity of 20.02%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 7th will be issued a $0.36 dividend. This is a positive change from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 7th. Matson's payout ratio is 8.96%.

Analyst Ratings Changes

Several research analysts have recently weighed in on MATX shares. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Jefferies Financial Group lowered shares of Matson from a "buy" rating to a "hold" rating and cut their price target for the company from $135.00 to $115.00 in a report on Friday, July 18th. Stephens lowered their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $131.67.

View Our Latest Research Report on Matson

Insider Buying and Selling

In other news, Director Bradley D. Tilden acquired 2,752 shares of the stock in a transaction dated Thursday, May 29th. The shares were acquired at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the completion of the transaction, the director owned 8,180 shares in the company, valued at approximately $914,196.80. This trade represents a 50.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Laura L. Rascon sold 1,700 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total value of $200,923.00. Following the completion of the sale, the senior vice president owned 14,712 shares in the company, valued at $1,738,811.28. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company's stock.

Matson Profile

(Free Report)

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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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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