Louisiana State Employees Retirement System Sells 300 Shares of Matson, Inc. $MATX

Louisiana State Employees Retirement System trimmed its position in Matson, Inc. (NYSE:MATX) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,300 shares of the shipping company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Matson were worth $1,704,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Matson in the 1st quarter valued at $34,000. State of Wyoming boosted its holdings in Matson by 495.3% in the 1st quarter. State of Wyoming now owns 381 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. NewEdge Advisors LLC bought a new position in Matson in the 1st quarter valued at $78,000. Covestor Ltd boosted its holdings in Matson by 30.4% in the 1st quarter. Covestor Ltd now owns 764 shares of the shipping company’s stock valued at $98,000 after purchasing an additional 178 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Matson by 42.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 877 shares of the shipping company’s stock valued at $98,000 after purchasing an additional 262 shares during the period. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

Matson stock opened at $88.04 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. The company has a market capitalization of $2.80 billion, a PE ratio of 5.95 and a beta of 1.21. The firm has a fifty day simple moving average of $103.69 and a two-hundred day simple moving average of $107.84. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $169.12.

Matson (NYSE:MATX) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.74. The business had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.31 earnings per share. Research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on MATX shares. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Matson in a report on Wednesday. Finally, Zacks Research raised shares of Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.67.

Insiders Place Their Bets

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the sale, the senior vice president directly owned 13,441 shares of the company’s stock, valued at $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.05% of the stock is owned by corporate insiders.

Matson 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.