Paradiem LLC Sells 4,749 Shares of Matson, Inc. (NYSE:MATX)

Paradiem LLC lessened its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,287 shares of the shipping company's stock after selling 4,749 shares during the period. Matson accounts for 3.0% of Paradiem LLC's holdings, making the stock its 17th biggest holding. Paradiem LLC owned about 0.26% of Matson worth $10,931,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MATX. JPMorgan Chase & Co. boosted its position in shares of Matson by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company's stock worth $43,570,000 after purchasing an additional 36,156 shares in the last quarter. Boston Partners increased its position in shares of Matson by 5.0% during the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company's stock worth $24,707,000 after acquiring an additional 8,704 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Matson during the fourth quarter valued at about $4,328,000. Ameriprise Financial Inc. raised its position in Matson by 73.9% in the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock worth $56,157,000 after acquiring an additional 177,000 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in shares of Matson during the 4th quarter valued at $544,000. Institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MATX shares. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Stephens reduced their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating and set a $135.00 price objective on shares of Matson in a research note on Wednesday, June 11th. Finally, Stifel Nicolaus lowered their price objective 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $138.33.

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 2,752 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the purchase, the director now owns 8,180 shares in the company, valued at approximately $914,196.80. This represents a 50.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laura L. Rascon sold 1,700 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total value of $200,923.00. Following the completion of the transaction, the senior vice president now directly owns 14,712 shares in the company, valued at $1,738,811.28. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.

Matson Stock Up 1.6%

Shares of NYSE:MATX traded up $1.74 during midday trading on Monday, reaching $111.60. The company's stock had a trading volume of 234,110 shares, compared to its average volume of 346,048. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $108.66 and a 200-day moving average of $125.42. The firm has a market capitalization of $3.64 billion, a P/E ratio of 7.35 and a beta of 1.31. Matson, Inc. has a 12-month low of $91.75 and a 12-month high of $169.12.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a net margin of 14.72% and a return on equity of 20.02%. The company had revenue of $782.00 million for the quarter, compared to analysts' expectations of $818.07 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 8th. Matson's dividend payout ratio is presently 8.96%.

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.