Matson, Inc. $MATX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Matson, Inc. (NYSE:MATX) by 5.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 265,485 shares of the shipping company’s stock after selling 14,434 shares during the period. Bank of New York Mellon Corp’s holdings in Matson were worth $29,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. boosted its position in Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after acquiring an additional 102 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Matson during the 1st quarter worth $34,000. State of Wyoming boosted its holdings in shares of Matson by 495.3% during the first quarter. State of Wyoming now owns 381 shares of the shipping company’s stock worth $49,000 after purchasing an additional 317 shares during the last quarter. IFP Advisors Inc grew its position in shares of Matson by 42.6% in the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 132 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Matson in the first quarter valued at $78,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Trading Up 0.2%

Shares of MATX stock opened at $106.78 on Friday. 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, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $164.84. The firm’s 50 day moving average price is $100.71 and its two-hundred day moving average price is $106.34. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 7.22 and a beta of 1.32.

Matson (NYSE:MATX) last issued its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, topping 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 return on equity of 18.90% and a net margin of 14.26%.The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.89 earnings per share. On average, analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

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

Analyst Upgrades and Downgrades

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