Boston Partners Trims Stock Position in Matson, Inc. $MATX

Boston Partners trimmed its holdings in Matson, Inc. (NYSE:MATX) by 65.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 333,844 shares of the shipping company’s stock after selling 624,326 shares during the quarter. Boston Partners owned 1.05% of Matson worth $37,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Matson by 8.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company’s stock valued at $12,390,000 after buying an additional 7,920 shares during the period. Alps Advisors Inc. acquired a new position in Matson in the first quarter valued at approximately $358,000. Cerity Partners LLC boosted its position in Matson by 4.6% in the 1st 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. Xponance Inc. grew its stake in shares of Matson by 4.3% during the 1st quarter. Xponance Inc. now owns 2,767 shares of the shipping company’s stock worth $355,000 after purchasing an additional 113 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Matson by 3.5% during the 1st quarter. Stephens Inc. AR now owns 4,852 shares of the shipping company’s stock valued at $622,000 after purchasing an additional 164 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Trading Up 1.8%

Shares of MATX stock opened at $110.36 on Thursday. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $169.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s fifty day moving average is $100.64 and its two-hundred day moving average is $106.33. The firm has a market capitalization of $3.44 billion, a P/E ratio of 7.46 and a beta of 1.32.

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

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders 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 yield of 1.3%. The ex-dividend date of this dividend is Thursday, November 6th. Matson’s dividend payout ratio (DPR) is 10.96%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a report on Wednesday, November 5th. Stephens raised their target price on Matson from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. 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. Finally, Wolfe Research upgraded 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. 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $141.75.

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.