Matson, Inc. $MATX Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its stake in Matson by 32.7% in Q3, selling 77,552 shares and now holds 159,461 shares (about 0.51% of the company) worth roughly $15.72 million.
• Insiders have been net sellers: 42,550 shares were sold in the past 90 days (~$7.03M), including EVP John P. Lauer's sale of 8,603 shares at $166.13 and SVP Kuuhaku T. Park's sale of 2,000 shares at $169.79, leaving insiders with 2.51% ownership.
• Matson topped quarterly EPS estimates ($4.60 vs. $3.69) with revenue of $851.9M (down 4.3% YoY); the stock trades near $163 and carries a MarketBeat consensus rating of Hold with an average target of $156.25.

JPMorgan Chase & Co. reduced its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 32.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,461 shares of the shipping company's stock after selling 77,552 shares during the period. JPMorgan Chase & Co. owned 0.51% of Matson worth $15,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MATX. Royal Bank of Canada increased its position in Matson by 8.3% during the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company's stock worth $5,300,000 after buying an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Matson by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company's stock valued at $2,501,000 after acquiring an additional 863 shares during the last quarter. Millennium Management LLC increased its position in Matson by 7.1% during the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company's stock worth $13,154,000 after purchasing an additional 6,778 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Matson during the 1st quarter worth about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Matson by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company's stock valued at $3,135,000 after purchasing an additional 2,492 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at Matson

In other Matson news, EVP John P. Lauer sold 8,603 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $166.13, for a total transaction of $1,429,216.39. Following the completion of the sale, the executive vice president directly owned 23,738 shares in the company, valued at $3,943,593.94. The trade was a 26.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kuuhaku T. Park sold 2,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $169.79, for a total transaction of $339,580.00. Following the completion of the sale, the senior vice president directly owned 13,484 shares of the company's stock, valued at $2,289,448.36. The trade was a 12.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 42,550 shares of company stock worth $7,034,602. Company insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MATX shares. Wolfe Research restated an "outperform" rating and issued a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Stephens boosted their price objective on shares of Matson from $190.00 to $213.00 and gave the company an "overweight" rating in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Matson in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $156.25.

Matson Stock Down 0.7%

Shares of NYSE MATX opened at $163.12 on Friday. The stock has a market capitalization of $4.96 billion, a PE ratio of 11.70 and a beta of 1.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $160.09 and a 200-day moving average of $127.19. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $177.51.

Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating analysts' consensus estimates of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The firm had revenue of $851.90 million for the quarter, compared to analysts' expectations of $847.30 million. During the same quarter last year, the firm earned $3.80 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, February 5th. Matson's payout ratio is currently 10.33%.

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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