Matson, Inc. $MATX Stake Lowered by Paradiem LLC

Key Points

• Paradiem LLC reduced its stake in Matson, Inc. (NYSE:MATX) by 5.8% during the second quarter, owning $8,945,000 worth of shares after selling 4,959 shares.
• Matson reported $2.92 EPS for the last quarter, surpassing analysts' expectations of $2.18, but showing a 2.0% decline in year-over-year revenue.
• A consensus of analysts currently rates Matson's stock as a "Hold" with an average target price of $131.67.

Paradiem LLC cut its stake in Matson, Inc. (NYSE:MATX - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,328 shares of the shipping company's stock after selling 4,959 shares during the quarter. Matson makes up 2.3% of Paradiem LLC's portfolio, making the stock its 19th biggest holding. Paradiem LLC owned 0.25% of Matson worth $8,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MATX. Janney Montgomery Scott LLC increased its position in Matson by 31.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 41,489 shares of the shipping company's stock worth $4,620,000 after purchasing an additional 9,861 shares during the last quarter. Archford Capital Strategies LLC bought a new stake in Matson in the second quarter worth approximately $1,009,000. State of Alaska Department of Revenue increased its stake in shares of Matson by 5.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 19,443 shares of the shipping company's stock worth $2,164,000 after purchasing an additional 1,041 shares during the last quarter. Ruffer LLP bought a new position in shares of Matson during the 2nd quarter valued at $3,423,000. Finally, Oliver Luxxe Assets LLC lifted its stake in shares of Matson by 1.4% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 13,954 shares of the shipping company's stock valued at $1,554,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of the company'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. This represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.05% of the company's stock.

Matson Price Performance

NYSE MATX opened at $99.81 on Tuesday. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. 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 stock has a market capitalization of $3.17 billion, a PE ratio of 6.75 and a beta of 1.21. The stock has a 50-day simple moving average of $105.68 and a 200 day simple moving average of $109.78.

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

Wall Street Analyst Weigh In

Several research firms have commented on MATX. Zacks Research raised shares of Matson from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Jefferies Financial Group reissued a "hold" rating and issued a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.