Nisa Investment Advisors LLC Sells 200 Shares of Matson, Inc. (MATX)

Nisa Investment Advisors LLC cut its position in shares of Matson, Inc. (NYSE:MATX) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 29,390 shares of the shipping company’s stock after selling 200 shares during the period. Nisa Investment Advisors LLC’s holdings in Matson were worth $879,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Matson by 83,732.7% in the first quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock worth $189,865,000 after buying an additional 5,970,976 shares during the period. Vanguard Group Inc. raised its stake in Matson by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock worth $122,062,000 after buying an additional 195,335 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Matson by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,404,954 shares of the shipping company’s stock worth $44,621,000 after buying an additional 39,440 shares during the period. State Street Corp raised its stake in Matson by 3.6% in the first quarter. State Street Corp now owns 1,063,682 shares of the shipping company’s stock worth $33,783,000 after buying an additional 36,623 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Matson by 4.5% in the first quarter. Macquarie Group Ltd. now owns 865,715 shares of the shipping company’s stock worth $27,495,000 after buying an additional 37,400 shares during the period. 84.00% of the stock is owned by institutional investors.

Matson, Inc. (MATX) traded up 1.95% during midday trading on Friday, hitting $30.27. The stock had a trading volume of 134,704 shares. Matson, Inc. has a 1-year low of $27.90 and a 1-year high of $43.00. The company has a market capitalization of $1.31 billion, a PE ratio of 17.39 and a beta of 1.13. The stock’s 50-day moving average is $29.60 and its 200-day moving average is $31.81.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million during the quarter, compared to analyst estimates of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Equities research analysts forecast that Matson, Inc. will post $1.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 annualized dividend and a yield of 2.64%. This is a positive change from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio (DPR) is currently 46.24%.

A number of equities research analysts have recently weighed in on MATX shares. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Stephens set a $40.00 target price on Matson and gave the company a “buy” rating in a research note on Saturday, June 10th. Finally, TheStreet lowered Matson from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.00.

In related news, Director Stanley M. Kuriyama purchased 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the completion of the transaction, the director now owns 32,932 shares in the company, valued at approximately $979,727. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Blake Baird sold 2,578 shares of Matson stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total value of $77,288.44. Following the completion of the transaction, the director now owns 15,583 shares of the company’s stock, valued at approximately $467,178.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,246 shares of company stock valued at $807,545. 2.60% of the stock is currently owned by company insiders.

Matson, Inc is a transportation company in the Marine industry.

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