Matson, Inc. $MATX Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,171 shares of the shipping company’s stock after selling 683 shares during the period. ProShare Advisors LLC owned approximately 0.19% of Matson worth $6,700,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in shares of Matson by 67.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after buying an additional 102 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Matson during the first quarter valued at about $34,000. State of Wyoming grew its position in Matson by 495.3% during the first quarter. State of Wyoming now owns 381 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 317 shares during the period. IFP Advisors Inc increased its stake in Matson by 42.6% during the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock worth $49,000 after acquiring an additional 132 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Matson in the 1st quarter worth about $78,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

MATX has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. Zacks Research upgraded shares of Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Stephens lifted their price target on shares of Matson from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Wolfe Research raised shares of Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price objective for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.75.

Matson Stock Down 3.1%

Shares of NYSE:MATX opened at $106.74 on Friday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 7.22 and a beta of 1.32. The company has a 50 day moving average of $100.69 and a two-hundred day moving average of $106.34. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $169.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX) last announced its earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.99. The business had revenue of $880.10 million during the quarter, compared to the consensus estimate of $837.72 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.89 earnings per share. As a group, analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, November 6th. Matson’s dividend payout ratio is presently 10.96%.

About Matson

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.