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

Allianz Asset Management GmbH decreased its holdings in Matson, Inc. (NYSE:MATX) by 6.2% during the 4th quarter, HoldingsChannel reports. The firm owned 317,505 shares of the shipping company’s stock after selling 21,055 shares during the quarter. Allianz Asset Management GmbH’s holdings in Matson were worth $42,812,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MATX. Creative Planning grew its position in Matson by 28.2% in the third quarter. Creative Planning now owns 11,417 shares of the shipping company’s stock valued at $1,628,000 after acquiring an additional 2,511 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Matson by 140.5% in the 3rd quarter. Blue Trust Inc. now owns 1,431 shares of the shipping company’s stock valued at $187,000 after purchasing an additional 836 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Matson during the 3rd quarter valued at approximately $210,000. International Assets Investment Management LLC increased its position in Matson by 14,162.0% during the 3rd quarter. International Assets Investment Management LLC now owns 42,786 shares of the shipping company’s stock worth $6,102,000 after purchasing an additional 42,486 shares in the last quarter. Finally, Highland Capital Management LLC lifted its stake in Matson by 12.3% in the 3rd quarter. Highland Capital Management LLC now owns 2,239 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Up 0.1 %

Shares of NYSE MATX opened at $142.99 on Friday. The company has a 50 day simple moving average of $139.50 and a 200 day simple moving average of $140.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. Matson, Inc. has a 1 year low of $100.50 and a 1 year high of $169.12. The firm has a market cap of $4.75 billion, a PE ratio of 11.90 and a beta of 1.05.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.34 per share. 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%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Stephens restated an “overweight” rating and set a $165.00 price objective 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.