QRG Capital Management Inc. Reduces Position in Matson, Inc. (NYSE:MATX)

QRG Capital Management Inc. cut its stake in shares of Matson, Inc. (NYSE:MATX) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,374 shares of the shipping company’s stock after selling 101 shares during the quarter. QRG Capital Management Inc.’s holdings in Matson were worth $766,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Matson by 35.8% during the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock valued at $2,172,000 after purchasing an additional 5,095 shares during the period. Texas Permanent School Fund Corp lifted its position in Matson by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 30,575 shares of the shipping company’s stock valued at $3,437,000 after purchasing an additional 410 shares during the period. SG Americas Securities LLC acquired a new position in Matson during the first quarter valued at $182,000. Meeder Asset Management Inc. lifted its position in Matson by 69.6% during the first quarter. Meeder Asset Management Inc. now owns 14,875 shares of the shipping company’s stock valued at $1,672,000 after purchasing an additional 6,102 shares during the period. Finally, Inspire Advisors LLC acquired a new position in Matson during the first quarter valued at $1,038,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stephens upped their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Matson Trading Up 2.6 %

Shares of Matson stock opened at $165.64 on Friday. The firm has a 50-day simple moving average of $138.34 and a two-hundred day simple moving average of $129.32. The company has a market cap of $5.50 billion, a P/E ratio of 13.78 and a beta of 1.06. Matson, Inc. has a fifty-two week low of $89.57 and a fifty-two week high of $167.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the prior year, the firm earned $3.40 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.82%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Insider Buying and Selling

In related news, SVP Leonard P. Isotoff sold 492 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the sale, the senior vice president now owns 4,254 shares of the company’s stock, valued at approximately $686,000.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the sale, the senior vice president now owns 4,254 shares of the company’s stock, valued at $686,000.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,864 shares of company stock worth $3,716,059 in the last 90 days. Insiders own 2.32% of the company’s stock.

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.