Allianz Asset Management GmbH Sells 21,055 Shares of Matson, Inc. (NYSE:MATX)

Allianz Asset Management GmbH reduced its stake in Matson, Inc. (NYSE:MATX) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,505 shares of the shipping company’s stock after selling 21,055 shares during the quarter. Allianz Asset Management GmbH owned about 0.96% of Matson worth $42,812,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Matson by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock worth $40,927,000 after purchasing an additional 26,366 shares during the period. Intech Investment Management LLC grew its holdings in Matson by 43.5% in the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock valued at $2,051,000 after buying an additional 4,361 shares in the last quarter. Quest Partners LLC increased its position in Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock worth $1,476,000 after buying an additional 6,080 shares during the period. Summit Global Investments lifted its holdings in shares of Matson by 78.0% during the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock worth $1,487,000 after buying an additional 4,567 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Matson by 7.5% in the third quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock valued at $1,437,000 after acquiring an additional 703 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Performance

NYSE:MATX opened at $142.99 on Friday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 11.90 and a beta of 1.05. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average price of $139.50 and a 200-day moving average price of $140.82.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.36 annualized dividend and a yield of 0.95%. Matson’s dividend payout ratio is 11.31%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens restated an “overweight” rating and set a $165.00 target price on shares of Matson in a research report on Thursday, January 2nd.

Matson 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.