Allianz Asset Management GmbH Has $5.86 Million Stock Holdings in Matson, Inc. $MATX

Allianz Asset Management GmbH trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 59.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,454 shares of the shipping company’s stock after selling 87,726 shares during the quarter. Allianz Asset Management GmbH owned 0.19% of Matson worth $5,862,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. William Blair Investment Management LLC acquired a new position in shares of Matson in the 2nd quarter worth approximately $21,037,000. Wedge Capital Management L L P NC raised its stake in Matson by 37.4% during the third quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company’s stock worth $12,541,000 after buying an additional 34,631 shares during the last quarter. Paradiem LLC lifted its holdings in Matson by 27.9% in the third quarter. Paradiem LLC now owns 102,721 shares of the shipping company’s stock valued at $10,127,000 after buying an additional 22,393 shares during the period. SummerHaven Investment Management LLC bought a new stake in Matson during the third quarter valued at $740,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Matson by 44.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 75,943 shares of the shipping company’s stock worth $8,689,000 after acquiring an additional 23,338 shares during the period. Institutional investors own 84.76% of the company’s stock.

Matson Stock Down 0.6%

Matson stock opened at $161.89 on Tuesday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 12.32 and a beta of 1.35. The firm’s fifty day moving average price is $135.82 and its two-hundred day moving average price is $114.74. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $169.20. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s payout ratio is presently 10.96%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research restated an “outperform” rating and set a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $156.25.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.