Teachers Retirement System of The State of Kentucky Has $1.78 Million Stock Holdings in Matson, Inc. (NYSE:MATX)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Matson, Inc. (NYSE:MATX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,468 shares of the shipping company’s stock after selling 190 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Matson were worth $1,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MATX. Pacer Advisors Inc. boosted its position in Matson by 4,167,726.1% during the 3rd quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after acquiring an additional 958,577 shares during the period. American Century Companies Inc. lifted its stake in Matson by 4.2% in the second quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock valued at $119,422,000 after acquiring an additional 36,901 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Matson by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company’s stock worth $56,437,000 after acquiring an additional 20,568 shares in the last quarter. Encompass Capital Advisors LLC increased its stake in shares of Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after purchasing an additional 122,017 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after purchasing an additional 134,092 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew J. Cox sold 6,499 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the transaction, the chief executive officer now owns 208,898 shares in the company, valued at approximately $30,043,710.36. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president now directly owns 4,254 shares of the company’s stock, valued at $686,000.04. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,145 shares of company stock valued at $2,513,455 in the last three months. Company insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

MATX has been the subject of a number of recent research reports. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Matson Price Performance

NYSE MATX opened at $145.63 on Tuesday. Matson, Inc. has a 1 year low of $100.50 and a 1 year high of $169.12. The company has a fifty day simple moving average of $147.86 and a 200 day simple moving average of $136.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.84 billion, a P/E ratio of 12.12 and a beta of 1.04.

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

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, November 7th. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Matson Company 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.