Voya Investment Management LLC lessened its holdings in shares of Matson Inc (NYSE:MATX) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,300 shares of the shipping company’s stock after selling 1,769 shares during the period. Voya Investment Management LLC’s holdings in Matson were worth $664,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Matson by 167.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock valued at $125,000 after purchasing an additional 2,042 shares during the period. SG Americas Securities LLC acquired a new position in Matson during the 1st quarter valued at about $135,000. CIBC Asset Management Inc acquired a new position in Matson during the 2nd quarter valued at about $209,000. Fruth Investment Management acquired a new position in Matson during the 2nd quarter valued at about $222,000. Finally, UBS Group AG boosted its stake in Matson by 1,157.3% during the 1st quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 7,256 shares during the period. 85.48% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MATX opened at $37.69 on Friday. The company has a market capitalization of $1.69 billion, a PE ratio of 21.17, a P/E/G ratio of 3.36 and a beta of 1.34. Matson Inc has a twelve month low of $26.55 and a twelve month high of $40.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, July 31st. The shipping company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.10. The company had revenue of $557.10 million during the quarter, compared to analyst estimates of $526.28 million. Matson had a net margin of 11.64% and a return on equity of 14.40%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Equities analysts forecast that Matson Inc will post 2.36 earnings per share for the current year.

In other news, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $37.02, for a total value of $37,020.00. Following the completion of the sale, the president now directly owns 62,884 shares of the company’s stock, valued at approximately $2,327,965.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark H. Fukunaga purchased 4,000 shares of Matson stock in a transaction dated Friday, September 7th. The stock was bought at an average cost of $36.24 per share, with a total value of $144,960.00. Following the completion of the purchase, the director now owns 10,432 shares in the company, valued at approximately $378,055.68. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $112,810. Company insiders own 2.48% of the company’s stock.

A number of research firms have issued reports on MATX. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, July 4th. Wells Fargo & Co lowered shares of Matson to a “hold” rating and set a $35.00 target price for the company. in a research note on Friday, September 28th. Finally, Stifel Nicolaus boosted their target price on shares of Matson from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $41.17.

Matson Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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