Matson, Inc. $MATX Holdings Reduced by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in Matson, Inc. (NYSE:MATX) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 816,311 shares of the shipping company’s stock after selling 1,571 shares during the quarter. Geode Capital Management LLC’s holdings in Matson were worth $90,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hantz Financial Services Inc. grew its holdings in Matson by 67.1% in 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 in the last quarter. Ethic Inc. grew its stake in shares of Matson by 2.7% in the first quarter. Ethic Inc. now owns 4,092 shares of the shipping company’s stock worth $537,000 after purchasing an additional 108 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Matson by 4.6% in the first quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company’s stock worth $338,000 after purchasing an additional 117 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Matson by 19.1% during the second quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 120 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Matson by 8.3% during the first quarter. Hancock Whitney Corp now owns 1,730 shares of the shipping company’s stock valued at $222,000 after purchasing an additional 132 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Up 3.2%

NYSE MATX opened at $105.32 on Friday. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $158.16. The company has a market capitalization of $3.28 billion, a P/E ratio of 7.12 and a beta of 1.32. The company’s 50 day simple moving average is $100.70 and its 200 day simple moving average is $106.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.99. The firm had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.89 earnings per share. Equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. Matson’s payout ratio is 10.96%.

Analysts Set New Price Targets

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

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.