Matson, Inc. (NYSE:MATX) Position Lessened by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of Matson, Inc. (NYSE:MATX) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,452 shares of the shipping company’s stock after selling 652 shares during the quarter. Amalgamated Bank’s holdings in Matson were worth $1,369,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its position in Matson by 6.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,414 shares of the shipping company’s stock worth $447,000 after purchasing an additional 201 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Matson by 98.1% in the 2nd quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock worth $1,315,000 after buying an additional 4,973 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Matson in the 2nd quarter valued at approximately $34,000. Envestnet Asset Management Inc. raised its stake in Matson by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 77,902 shares of the shipping company’s stock valued at $10,203,000 after acquiring an additional 9,351 shares in the last quarter. Finally, Vest Financial LLC boosted its position in Matson by 8.9% during the 2nd quarter. Vest Financial LLC now owns 8,667 shares of the shipping company’s stock worth $1,135,000 after acquiring an additional 709 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Trading Down 0.8 %

Shares of Matson stock opened at $141.71 on Friday. The business has a fifty day simple moving average of $132.31 and a 200-day simple moving average of $122.12. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 16.71 and a beta of 1.07. Matson, Inc. has a fifty-two week low of $82.68 and a fifty-two week high of $144.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Matson (NYSE:MATX) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The company had revenue of $847.40 million during the quarter, compared to analyst estimates of $861.68 million. On average, equities analysts forecast that Matson, Inc. will post 11.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MATX shares. Stephens lifted their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note 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.

Insiders Place Their Bets

In other news, SVP Jason Lee Taylor sold 1,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was 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 approximately $1,274,776.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joel M. Wine sold 12,090 shares of Matson stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $129.73, for a total value of $1,568,435.70. Following the transaction, the chief financial officer now owns 139,239 shares of the company’s stock, valued at approximately $18,063,475.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,592 shares of company stock worth $11,389,694. 2.32% of the stock is owned by insiders.

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.