Matson, Inc. (MATX) Holding Reduced by Profund Advisors LLC

Matson, Inc. (MATX) Holding Reduced by Profund Advisors LLC

Profund Advisors LLC decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 29.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,508 shares of the shipping company’s stock after selling 3,916 shares during the period. Profund Advisors LLC’s holdings in Matson were worth $302,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in shares of Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock valued at $151,000 after buying an additional 110 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Matson by 0.6% in the third quarter. BlackRock Group LTD now owns 50,331 shares of the shipping company’s stock valued at $2,007,000 after buying an additional 320 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Matson by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the shipping company’s stock valued at $559,000 after buying an additional 400 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Matson by 6.4% in the third quarter. BlackRock Inc. now owns 7,892 shares of the shipping company’s stock valued at $315,000 after buying an additional 472 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

Shares of Matson, Inc. (NYSE MATX) traded down 1.61% during trading on Wednesday, hitting $29.26. 188,665 shares of the stock traded hands. The company has a market cap of $1.26 billion, a PE ratio of 18.29 and a beta of 1.02. Matson, Inc. has a one year low of $28.24 and a one year high of $43.00. The firm has a 50 day moving average price of $31.08 and a 200-day moving average price of $34.18.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, May 3rd. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Matson had a net margin of 4.57% and a return on equity of 20.49%. The company had revenue of $474.40 million for the quarter, compared to the consensus estimate of $417.03 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Matson, Inc. will post $1.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 9th. This represents a $0.76 annualized dividend and a dividend yield of 2.60%. Matson’s payout ratio is 38.00%.

Several brokerages have recently commented on MATX. TheStreet cut shares of Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. Zacks Investment Research raised shares of Matson from a “sell” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, April 26th.

In related news, CEO Matthew J. Cox sold 20,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $32.16, for a total value of $643,200.00. Following the sale, the chief executive officer now owns 241,720 shares of the company’s stock, valued at $7,773,715.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Chun sold 4,300 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $34.34, for a total transaction of $147,662.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,968 shares of company stock worth $877,919. Insiders own 2.36% of the company’s stock.

Matson, Inc is a transportation company in the Marine industry.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MATX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding MATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matson, Inc. (NYSE:MATX).

Related posts

Leave a Comment