James Investment Research Inc. Trims Stake in Matson Inc (MATX)

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James Investment Research Inc. trimmed its holdings in Matson Inc (NYSE:MATX) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,070 shares of the shipping company’s stock after selling 1,995 shares during the quarter. James Investment Research Inc.’s holdings in Matson were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in Matson by 167.7% in the second quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock worth $125,000 after purchasing an additional 2,042 shares during the period. CIBC Asset Management Inc bought a new position in Matson in the second quarter worth $209,000. Fruth Investment Management bought a new position in Matson in the second quarter worth $222,000. UBS Group AG lifted its position in Matson by 1,157.3% in the first quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock worth $225,000 after purchasing an additional 7,256 shares during the period. Finally, North Point Portfolio Managers Corp OH bought a new position in Matson in the second quarter worth $234,000. 84.75% of the stock is owned by institutional investors.

In other Matson news, President Ronald J. Forest sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $36.00, for a total transaction of $36,000.00. Following the transaction, the president now owns 63,884 shares in the company, valued at $2,299,824. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark H. Fukunaga acquired 4,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were acquired at an average price of $36.24 per share, for a total transaction of $144,960.00. Following the acquisition, the director now directly owns 10,432 shares in the company, valued at $378,055.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 3,000 shares of company stock worth $112,810. Company insiders own 2.48% of the company’s stock.

Matson stock opened at $33.85 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. Matson Inc has a 52-week low of $26.55 and a 52-week high of $40.60. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 2.85 and a beta of 1.34.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Wednesday, November 7th. Matson’s dividend payout ratio (DPR) is currently 47.19%.

MATX has been the subject of several research reports. Wells Fargo & Co cut Matson to a “hold” rating and set a $35.00 target price for the company. in a research report on Friday, September 28th. ValuEngine cut Matson from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, July 4th. Finally, Stifel Nicolaus raised their target price on Matson from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Matson presently has a consensus rating of “Buy” and a consensus target price of $41.17.

Matson Profile

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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