New York Life Investment Management LLC lowered its position in Matson, Inc. (NYSE:MATX – Free Report) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,957 shares of the shipping company’s stock after selling 953 shares during the quarter. New York Life Investment Management LLC’s holdings in Matson were worth $529,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MATX. International Assets Investment Management LLC acquired a new stake in Matson in the 3rd quarter worth about $27,000. Parallel Advisors LLC lifted its stake in shares of Matson by 43.1% in the 2nd quarter. Parallel Advisors LLC now owns 362 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. CWM LLC lifted its stake in shares of Matson by 41.4% in the 2nd quarter. CWM LLC now owns 413 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 121 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Matson in the 4th quarter valued at about $53,000. Finally, U S Global Investors Inc. acquired a new position in shares of Matson in the 3rd quarter valued at about $78,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.
Matson Stock Performance
MATX opened at $118.68 on Friday. The company has a market cap of $4.17 billion, a PE ratio of 13.64 and a beta of 1.15. The stock has a 50-day moving average of $109.51 and a 200-day moving average of $96.96. Matson, Inc. has a 52-week low of $56.51 and a 52-week high of $122.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.11.
Matson Announces Dividend
Analysts Set New Price Targets
MATX has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Matson from $102.00 to $108.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. Wolfe Research upped their price objective on Matson from $113.00 to $116.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. Finally, StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
Insider Activity at Matson
In related news, SVP Christopher A. Scott sold 952 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $98.93, for a total transaction of $94,181.36. Following the completion of the sale, the senior vice president now directly owns 10,974 shares of the company’s stock, valued at approximately $1,085,657.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matson news, SVP Richard S. Kinney sold 997 shares of Matson stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $96.30, for a total value of $96,011.10. Following the sale, the senior vice president now owns 9,427 shares of the company’s stock, valued at approximately $907,820.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Scott sold 952 shares of Matson stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $98.93, for a total value of $94,181.36. Following the completion of the sale, the senior vice president now directly owns 10,974 shares in the company, valued at approximately $1,085,657.82. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.
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