Matson Inc (MATX) Stake Lessened by Voya Investment Management LLC

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Voya Investment Management LLC lowered its position in shares of Matson Inc (NYSE:MATX) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the shipping company’s stock after selling 1,769 shares during the quarter. Voya Investment Management LLC’s holdings in Matson were worth $664,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates acquired a new stake in shares of Matson during the second quarter valued at approximately $624,000. FMR LLC increased its stake in Matson by 8.2% in the 2nd quarter. FMR LLC now owns 133,800 shares of the shipping company’s stock valued at $5,135,000 after buying an additional 10,100 shares during the period. Globeflex Capital L P increased its stake in Matson by 10.4% in the 2nd quarter. Globeflex Capital L P now owns 32,335 shares of the shipping company’s stock valued at $1,241,000 after buying an additional 3,047 shares during the period. Dimensional Fund Advisors LP increased its stake in Matson by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,639,472 shares of the shipping company’s stock valued at $101,303,000 after buying an additional 36,187 shares during the period. Finally, Brown Advisory Inc. acquired a new position in Matson in the 2nd quarter valued at approximately $1,384,000. Institutional investors and hedge funds own 85.48% of the company’s stock.

Matson stock opened at $37.69 on Friday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 3.36 and a beta of 1.34. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.28. Matson Inc has a twelve month low of $26.55 and a twelve month high of $40.60.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, July 31st. The shipping company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The company had revenue of $557.10 million during the quarter, compared to the consensus estimate of $526.28 million. Matson had a net margin of 11.64% and a return on equity of 14.40%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities research analysts forecast that Matson Inc will post 2.36 earnings per share for the current year.

Several research firms have weighed in on MATX. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday, July 4th. Wells Fargo & Co lowered shares of Matson to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Friday, September 28th. Finally, Stifel Nicolaus upped their price objective on shares of Matson from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $41.17.

In other Matson news, President Ronald J. Forest sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $39.79, for a total value of $39,790.00. Following the completion of the sale, the president now directly owns 61,884 shares of the company’s stock, valued at $2,462,364.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark H. Fukunaga bought 4,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was acquired at an average cost of $36.24 per share, with a total value of $144,960.00. Following the completion of the transaction, the director now directly owns 10,432 shares of the company’s stock, valued at $378,055.68. The disclosure for this purchase can be found here. Insiders sold 3,000 shares of company stock valued at $112,810 over the last three months. Insiders own 2.48% of the company’s stock.

About Matson

Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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