Illinois Municipal Retirement Fund Has $2.25 Million Position in Matson, Inc. (NYSE:MATX)

Illinois Municipal Retirement Fund lessened its holdings in shares of Matson, Inc. (NYSE:MATX) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,513 shares of the shipping company’s stock after selling 750 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Matson were worth $2,248,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Matson by 11.2% in the third quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock valued at $57,989,000 after acquiring an additional 65,736 shares during the period. Charles Schwab Investment Management Inc. grew its position in Matson by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,500 shares of the shipping company’s stock worth $31,540,000 after purchasing an additional 13,591 shares during the last quarter. London Co. of Virginia increased its holdings in shares of Matson by 1.5% during the 3rd quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock worth $26,966,000 after purchasing an additional 4,455 shares during the period. Invesco Ltd. lifted its stake in shares of Matson by 12.6% in the third quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock valued at $25,313,000 after buying an additional 31,833 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Matson during the third quarter worth about $14,074,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

MATX has been the subject of a number of recent research reports. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research note on Saturday, April 20th. Stifel Nicolaus increased their price target on Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st.

Matson Stock Up 1.4 %

Matson stock opened at $109.72 on Friday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 13.09 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. Matson, Inc. has a 1-year low of $61.51 and a 1-year high of $122.99. The firm’s fifty day moving average price is $109.54 and its two-hundred day moving average price is $105.16.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, February 20th. The shipping company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.75 by $0.03. Matson had a net margin of 9.60% and a return on equity of 12.71%. The business had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. During the same period in the prior year, the firm earned $2.10 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Christopher A. Scott sold 1,171 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the completion of the transaction, the senior vice president now directly owns 12,958 shares in the company, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is currently owned by 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.