UBS Group AG Sells 63,241 Shares of Matson, Inc. $MATX

Key Points

• UBS Group AG cut its Matson stake by 40% in the fourth quarter, selling 63,241 shares and leaving it with 94,733 shares worth about $11.7 million.
• Matson reported Q1 EPS of $1.85, beating analyst estimates, though revenue of $757.8 million came in below expectations and was down 3.1% year over year.
• The company declared a quarterly dividend of $0.36 per share, while insider selling has also been notable, with executives selling 60,993 shares over the last 90 days.

UBS Group AG trimmed its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,733 shares of the shipping company's stock after selling 63,241 shares during the quarter. UBS Group AG owned approximately 0.30% of Matson worth $11,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MATX. Royal Bank of Canada grew its position in Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company's stock worth $5,300,000 after acquiring an additional 3,155 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Matson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company's stock worth $2,501,000 after acquiring an additional 863 shares during the last quarter. Millennium Management LLC grew 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 acquiring an additional 6,778 shares during the last quarter. NewEdge Advisors LLC bought a new position in Matson during the 1st quarter worth approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 worth $3,135,000 after buying an additional 2,492 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Price Performance

MATX stock opened at $179.56 on Friday. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $189.99. The company has a market cap of $5.43 billion, a P/E ratio of 13.19 and a beta of 1.30. The firm has a 50-day moving average of $167.87 and a 200 day moving average of $144.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. Matson's revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. On average, sell-side analysts forecast that Matson, Inc. will post 13.96 EPS for the current year.

Matson Dividend Announcement

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

Insider Activity at Matson

In related news, SVP Kuuhaku T. Park sold 2,500 shares of Matson stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the sale, the senior vice president directly owned 10,984 shares in the company, valued at $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Laura L. Rascon sold 540 shares of Matson stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total value of $97,648.20. Following the sale, the senior vice president owned 18,456 shares in the company, valued at $3,337,398.48. This represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,993 shares of company stock valued at $10,360,506 over the last ninety days. Insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MATX. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. JPMorgan Chase & Co. began coverage on Matson in a research report on Monday, April 27th. They issued an "overweight" rating and a $230.00 price objective on the stock. Zacks Research upgraded Matson to a "hold" rating in a research report on Wednesday, April 29th. Finally, Stephens lifted their price objective on Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company 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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