Deutsche Bank AG Sells 2,675 Shares of Matson, Inc. $MATX

Deutsche Bank AG lowered its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,541 shares of the shipping company's stock after selling 2,675 shares during the quarter. Deutsche Bank AG owned 0.11% of Matson worth $4,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of Matson during the 4th quarter worth approximately $36,000. Parallel Advisors LLC lifted its position in shares of Matson by 112.2% during the 1st quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock worth $100,000 after buying an additional 414 shares in the last quarter. Curat Global LLC bought a new position in shares of Matson during the 1st quarter worth approximately $104,000. U S Global Investors Inc. lifted its position in shares of Matson by 22.9% during the 1st quarter. U S Global Investors Inc. now owns 1,009 shares of the shipping company's stock worth $129,000 after buying an additional 188 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Matson during the 1st quarter worth approximately $129,000. Institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stephens decreased their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group restated a "hold" rating and set a $115.00 price target on shares of Matson in a research note on Friday, August 1st. Finally, Stifel Nicolaus decreased their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Matson currently has a consensus rating of "Hold" and an average price target of $131.67.

Matson Stock Performance

Matson stock traded up $0.3690 during mid-day trading on Thursday, reaching $102.0390. The company's stock had a trading volume of 186,846 shares, compared to its average volume of 410,114. Matson, Inc. has a 12-month low of $91.75 and a 12-month high of $169.12. The company has a market capitalization of $3.24 billion, a P/E ratio of 6.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78. The firm's fifty day moving average price is $109.69 and its two-hundred day moving average price is $116.84.

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

Matson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.36 per share. This is an increase from Matson's previous quarterly dividend of $0.34. The ex-dividend date is Thursday, August 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. Matson's dividend payout ratio (DPR) is presently 9.74%.

Insider Activity

In other news, SVP Christopher A. Scott sold 1,044 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the transaction, the senior vice president directly owned 13,441 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, SVP Leonard P. Isotoff sold 500 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the transaction, the senior vice president owned 5,644 shares of the company's stock, valued at $629,136.68. This trade represents a 8.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

Matson Company 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.