Paradiem LLC Sells 4,959 Shares of Matson, Inc. $MATX

Paradiem LLC lowered its position in Matson, Inc. (NYSE:MATX) by 5.8% in the second quarter, Holdings Channel.com reports. The fund owned 80,328 shares of the shipping company’s stock after selling 4,959 shares during the period. Matson makes up 2.3% of Paradiem LLC’s investment portfolio, making the stock its 19th largest holding. Paradiem LLC’s holdings in Matson were worth $8,945,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Boston Partners increased its position in shares of Matson by 424.8% during the first quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock valued at $121,428,000 after purchasing an additional 775,600 shares during the period. Nuveen LLC acquired a new stake in Matson during the first quarter worth $23,325,000. GAMMA Investing LLC increased its holdings in Matson by 14,218.7% in the 1st quarter. GAMMA Investing LLC now owns 175,977 shares of the shipping company’s stock valued at $22,555,000 after buying an additional 174,748 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Matson in the 2nd quarter valued at $14,183,000. Finally, Park West Asset Management LLC acquired a new position in shares of Matson in the 1st quarter valued at $11,535,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Price Performance

NYSE:MATX opened at $99.81 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.17 billion, a PE ratio of 6.75 and a beta of 1.21. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The company’s 50-day moving average price is $105.68 and its two-hundred day moving average price is $109.78.

Matson (NYSE:MATX) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.74. The company had revenue of $830.50 million during the quarter, compared to analysts’ expectations of $727.30 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. Matson’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.31 earnings per share. On average, equities analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the transaction, the senior vice president owned 13,441 shares of the company’s stock, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MATX. Zacks Research upgraded shares of Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price objective on shares of Matson in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.67.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.