Cornerstone Capital Management Holdings LLC. Cuts Position in Matson, Inc. (MATX)

Cornerstone Capital Management Holdings LLC. reduced its stake in Matson, Inc. (NYSE:MATX) by 28.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,400 shares of the shipping company’s stock after selling 14,700 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Matson were worth $1,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Two Sigma Advisers LP increased its stake in Matson by 5.5% in the 4th quarter. Two Sigma Advisers LP now owns 26,970 shares of the shipping company’s stock valued at $805,000 after buying an additional 1,400 shares during the last quarter. Rhumbline Advisers increased its stake in Matson by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 86,316 shares of the shipping company’s stock valued at $2,432,000 after buying an additional 1,806 shares during the last quarter. American International Group Inc. increased its stake in Matson by 5.7% in the 3rd quarter. American International Group Inc. now owns 33,964 shares of the shipping company’s stock valued at $957,000 after buying an additional 1,843 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Matson by 14.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 16,400 shares of the shipping company’s stock valued at $489,000 after buying an additional 2,100 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Matson by 2.7% in the 3rd quarter. California Public Employees Retirement System now owns 83,418 shares of the shipping company’s stock valued at $2,351,000 after buying an additional 2,218 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

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Several brokerages have issued reports on MATX. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 price target (up from $32.00) on shares of Matson in a research note on Monday, January 29th. TheStreet lowered shares of Matson from a “b” rating to a “c+” rating in a research note on Friday, March 2nd. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Thursday, January 4th. Seaport Global Securities upgraded shares of Matson from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, January 29th. Finally, Wells Fargo upgraded shares of Matson from an “underperform” rating to a “market perform” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Matson presently has a consensus rating of “Hold” and a consensus target price of $32.60.

In other news, President Ronald J. Forest sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $29.56, for a total transaction of $295,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey N. Watanabe sold 3,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $29.37, for a total transaction of $102,795.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,215 shares of company stock worth $934,628 over the last 90 days. 2.48% of the stock is owned by company insiders.

Shares of MATX stock opened at $28.64 on Friday. The firm has a market capitalization of $1,221.50, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.70 and a beta of 1.42. Matson, Inc. has a 1 year low of $21.63 and a 1 year high of $40.32. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, February 20th. The shipping company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $516.10 million for the quarter, compared to analyst estimates of $504.61 million. Matson had a return on equity of 14.40% and a net margin of 11.33%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. research analysts expect that Matson, Inc. will post 2.12 EPS for the current year.

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About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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