XTX Topco Ltd Sells 5,778 Shares of Matson, Inc. $MATX

XTX Topco Ltd decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 56.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,496 shares of the shipping company’s stock after selling 5,778 shares during the period. XTX Topco Ltd’s holdings in Matson were worth $501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. Summit Global Investments lifted its holdings in shares of Matson by 7.4% during the 2nd quarter. Summit Global Investments now owns 9,917 shares of the shipping company’s stock valued at $1,104,000 after buying an additional 683 shares during the period. Sierra Summit Advisors LLC increased its position in Matson by 28.6% during the second quarter. Sierra Summit Advisors LLC now owns 5,969 shares of the shipping company’s stock valued at $665,000 after acquiring an additional 1,328 shares during the last quarter. Cynosure Group LLC lifted its holdings in Matson by 40.6% in the second quarter. Cynosure Group LLC now owns 3,523 shares of the shipping company’s stock valued at $392,000 after acquiring an additional 1,018 shares during the period. American Century Companies Inc. boosted its position in Matson by 4.9% in the second quarter. American Century Companies Inc. now owns 1,215,407 shares of the shipping company’s stock worth $135,336,000 after purchasing an additional 56,573 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Matson by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 98,896 shares of the shipping company’s stock valued at $11,012,000 after purchasing an additional 1,512 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Monday, November 24th. Stephens upped their target price on shares of Matson from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wolfe Research upgraded shares of Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price target on the stock in a research note on Friday, November 7th. Finally, Zacks Research raised shares of Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Matson has a consensus rating of “Hold” and a consensus target price of $141.75.

Matson Price Performance

Shares of NYSE:MATX opened at $113.84 on Friday. The company has a market capitalization of $3.55 billion, a P/E ratio of 8.66 and a beta of 1.33. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $154.44. The firm’s 50 day simple moving average is $101.67 and its two-hundred day simple moving average is $106.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83.

Matson (NYSE:MATX) last released its earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.99. The company had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $837.72 million. Matson had a net margin of 12.70% and a return on equity of 16.23%. Matson’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.89 EPS. Research analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, November 6th. Matson’s 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.