Intech Investment Management LLC Sells 6,528 Shares of Matson, Inc. $MATX

Key Points

• Intech Investment Management cut its Matson stake by 21.6% in Q4, selling 6,528 shares and leaving it with 23,707 shares worth about $2.93 million.
• Matson reported better-than-expected earnings for the latest quarter, with EPS of $1.85 versus the $1.65 estimate, though revenue of $757.8 million came in below expectations and fell 3.1% year over year.
• The company declared a quarterly dividend of $0.36 per share, while insiders also sold shares recently; meanwhile, analysts currently rate the stock a Moderate Buy with a consensus target price of $181.25.

Intech Investment Management LLC reduced its stake in Matson, Inc. (NYSE:MATX - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,707 shares of the shipping company's stock after selling 6,528 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Matson worth $2,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MATX. Millennium Management LLC increased its holdings in Matson by 144.9% in the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company's stock valued at $44,872,000 after acquiring an additional 269,310 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Matson in the 3rd quarter worth about $26,415,000. Ameriprise Financial Inc. increased its holdings in shares of Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company's stock worth $65,770,000 after buying an additional 128,994 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Matson in the 3rd quarter worth about $9,503,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Matson by 79.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 216,645 shares of the shipping company's stock worth $24,123,000 after buying an additional 95,796 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Performance

Shares of NYSE:MATX opened at $187.33 on Wednesday. The firm has a market cap of $5.67 billion, a PE ratio of 13.76 and a beta of 1.29. The firm's 50 day simple moving average is $174.31 and its 200-day simple moving average is $151.51. Matson, Inc. has a one year low of $86.97 and a one year high of $190.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.Matson's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $2.18 EPS. As a group, equities analysts predict that Matson, Inc. will post 13.96 EPS for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson's dividend payout ratio (DPR) is presently 10.58%.

Insider Activity at Matson

In other Matson news, SVP Christopher A. Scott sold 3,305 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total transaction of $595,362.70. Following the transaction, the senior vice president directly owned 11,228 shares in the company, valued at $2,022,611.92. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Warren Sullivan sold 3,331 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total value of $600,046.34. Following the transaction, the senior vice president owned 9,547 shares in the company, valued at $1,719,796.58. The trade was a 25.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,275 shares of company stock worth $5,639,495 over the last three months. Corporate insiders own 2.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MATX shares. JPMorgan Chase & Co. started coverage on shares of Matson in a report on Monday, April 27th. They issued an "overweight" rating and a $230.00 target price on the stock. Zacks Research upgraded shares of Matson to a "hold" rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Matson in a report on Friday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Matson currently has an average rating of "Moderate Buy" and a consensus target price of $181.25.

Matson Company Profile

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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