Matson, Inc. $MATX Shares Sold by Amundi

Key Points

• Amundi reduced its holdings in Matson, Inc. by 19.6% during Q1, owning 13,812 shares valued at $1.77 million.
• Matson recently declared a quarterly dividend of $0.36, showing an increase from the previous $0.34, with a 1.4% yield for shareholders.
• Despite a net margin of 14.26% and beating EPS estimates, Matson's revenue decreased by 2.0% year-over-year, indicating challenges ahead.

Amundi cut its stake in Matson, Inc. (NYSE:MATX - Free Report) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,812 shares of the shipping company's stock after selling 3,376 shares during the period. Amundi's holdings in Matson were worth $1,770,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in shares of Matson in the fourth quarter worth about $36,000. Brooklyn Investment Group bought a new position in shares of Matson in the first quarter worth about $34,000. State of Wyoming grew its holdings in Matson by 495.3% during the 1st quarter. State of Wyoming now owns 381 shares of the shipping company's stock worth $49,000 after acquiring an additional 317 shares in the last quarter. Covestor Ltd grew its holdings in Matson by 30.4% during the 1st quarter. Covestor Ltd now owns 764 shares of the shipping company's stock worth $98,000 after acquiring an additional 178 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Matson by 676.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the shipping company's stock worth $99,000 after acquiring an additional 670 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 13,441 shares of the company's stock, valued at $1,477,703.54. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.05% of the stock is owned by insiders.

Matson Stock Up 1.2%

Shares of MATX stock traded up $1.30 during mid-day trading on Thursday, hitting $107.41. 379,696 shares of the stock traded hands, compared to its average volume of 281,713. The stock has a market cap of $3.41 billion, a P/E ratio of 7.26 and a beta of 1.21. The stock's fifty day moving average is $106.65 and its two-hundred day moving average is $111.50. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78.

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

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 7th. This is an increase from Matson's previous quarterly dividend of $0.34. Matson's payout ratio is 9.74%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $115.00 target price on shares of Matson in a report on Friday, August 1st. Zacks Research upgraded shares of Matson from a "strong sell" rating to a "hold" rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Matson has a consensus rating of "Hold" and a consensus price target of $131.67.

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.