Paradiem LLC Lowers Stake in Matson, Inc. $MATX

Paradiem LLC decreased its position in shares of Matson, Inc. (NYSE:MATX) by 11.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 88,082 shares of the shipping company’s stock after selling 11,632 shares during the quarter. Matson makes up 3.2% of Paradiem LLC’s investment portfolio, making the stock its 9th largest position. Paradiem LLC owned approximately 0.29% of Matson worth $14,440,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Matson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after purchasing an additional 21,516 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Matson by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock worth $244,975,000 after buying an additional 21,463 shares during the period. Ameriprise Financial Inc. grew its stake in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares in the last quarter. Millennium Management LLC raised its holdings in Matson by 144.9% during 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 period. Finally, Morgan Stanley raised its holdings in Matson by 1.3% during the 4th quarter. Morgan Stanley now owns 430,292 shares of the shipping company’s stock valued at $53,163,000 after acquiring an additional 5,709 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Down 0.2%

MATX opened at $204.36 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.18 billion, a PE ratio of 15.02 and a beta of 1.28. The business’s fifty day simple moving average is $190.50 and its 200 day simple moving average is $168.43. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $207.88.

Matson (NYSE:MATX) last issued its earnings results 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 net margin of 12.92% and a return on equity of 15.90%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 earnings per share. As a group, research analysts expect that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Matson’s payout ratio is 10.58%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. started coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Insiders Place Their Bets

In related news, SVP Christopher A. Scott sold 1,520 shares of Matson stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the sale, the senior vice president owned 9,708 shares in the company, valued at $1,757,633.40. The trade was a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Laura L. Rascon sold 2,800 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $188.53, for a total transaction of $527,884.00. Following the completion of the transaction, the senior vice president owned 15,656 shares of the company’s stock, valued at $2,951,625.68. This trade represents a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,963 shares of company stock valued at $4,349,268 over the last quarter. 2.51% of the stock is owned by company insiders.

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.