Quadrature Capital Ltd Buys New Stake in Matson, Inc. (NYSE:MATX)

Quadrature Capital Ltd acquired a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,590 shares of the shipping company's stock, valued at approximately $512,000.

Other hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in shares of Matson in the 2nd quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new position in Matson in the second quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Matson during the second quarter valued at approximately $39,000. Harbor Capital Advisors Inc. bought a new stake in shares of Matson during the third quarter valued at approximately $50,000. Finally, Blue Trust Inc. raised its holdings in Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company's stock worth $78,000 after acquiring an additional 413 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Matson Stock Performance

Shares of MATX traded down $6.11 during trading hours on Monday, hitting $145.03. The stock had a trading volume of 275,562 shares, compared to its average volume of 273,463. The firm has a market capitalization of $4.82 billion, a PE ratio of 12.57 and a beta of 1.04. 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 12 month low of $94.58 and a 12 month high of $169.12. The stock has a fifty day moving average price of $147.28 and a 200 day moving average price of $135.57.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.40 EPS. Analysts anticipate that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were paid a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.94%. Matson's dividend payout ratio (DPR) is 11.31%.

Insider Buying and Selling

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the sale, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $143.82, for a total value of $934,686.18. Following the completion of the sale, the chief executive officer now owns 208,898 shares of the company's stock, valued at $30,043,710.36. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,145 shares of company stock valued at $2,513,455. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MATX shares. StockNews.com downgraded Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a research report on Monday, November 18th.

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.