LSV Asset Management Sells 4,900 Shares of Matson, Inc. $MATX

LSV Asset Management decreased its holdings in shares of Matson, Inc. (NYSE:MATX) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,522 shares of the shipping company’s stock after selling 4,900 shares during the quarter. LSV Asset Management’s holdings in Matson were worth $30,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after buying an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Matson by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after acquiring an additional 863 shares during the last quarter. Millennium Management LLC raised its position in Matson by 7.1% during the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after purchasing an additional 6,778 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Matson in the 1st quarter valued at approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Matson by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock worth $3,135,000 after purchasing an additional 2,492 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Trading Up 2.6%

MATX opened at $162.27 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $139.58 and its two-hundred day moving average is $116.10. The company has a market capitalization of $5.06 billion, a P/E ratio of 12.35 and a beta of 1.35. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $169.20.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 0.9%. Matson’s payout ratio is currently 10.96%.

Analyst Upgrades and Downgrades

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

Matson Company Profile

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.