New York State Teachers Retirement System Sells 2,008 Shares of Matson, Inc. (NYSE:MATX)

New York State Teachers Retirement System trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 51,446 shares of the shipping company’s stock after selling 2,008 shares during the period. New York State Teachers Retirement System’s holdings in Matson were worth $6,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its holdings in Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after acquiring an additional 78 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Matson by 0.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock valued at $2,244,000 after buying an additional 80 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Matson by 2.9% during the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after buying an additional 85 shares during the last quarter. Caprock Group LLC lifted its position in shares of Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after buying an additional 91 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Matson by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after buying an additional 107 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on MATX shares. Stephens reissued an “overweight” rating and set a $165.00 price target on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Stock Performance

Shares of Matson stock opened at $143.59 on Thursday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 11.95 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $139.63 and a 200 day moving average price of $140.62. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12.

Matson Dividend Announcement

The business 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 $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, February 6th. Matson’s payout ratio 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.