Barclays PLC Sells 166,307 Shares of Matson, Inc. (NYSE:MATX)

Barclays PLC cut its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 61.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,360 shares of the shipping company's stock after selling 166,307 shares during the period. Barclays PLC owned approximately 0.32% of Matson worth $15,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC increased its holdings in Matson by 58.1% during the second quarter. CWM LLC now owns 664 shares of the shipping company's stock worth $87,000 after buying an additional 244 shares during the last quarter. SG Americas Securities LLC increased its holdings in Matson by 164.4% in the 2nd quarter. SG Americas Securities LLC now owns 4,272 shares of the shipping company's stock worth $560,000 after acquiring an additional 2,656 shares during the last quarter. Blue Trust Inc. increased 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. Raymond James & Associates increased its stake in shares of Matson by 17.9% in the second quarter. Raymond James & Associates now owns 18,877 shares of the shipping company's stock worth $2,472,000 after purchasing an additional 2,866 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its position in shares of Matson by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company's stock valued at $1,255,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other Matson news, SVP John Warren Sullivan sold 750 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now directly owns 21,871 shares of the company's stock, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,145 shares of company stock valued at $2,513,455 in the last quarter. Insiders own 2.32% of the company's stock.

Analyst Upgrades and Downgrades

MATX has been the subject of several analyst reports. StockNews.com downgraded Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th. Wolfe Research cut shares of Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th.

Matson Price Performance

Shares of NYSE MATX traded down $0.59 during trading hours on Monday, reaching $145.63. 198,302 shares of the stock traded hands, compared to its average volume of 272,005. The company has a market capitalization of $4.84 billion, a P/E ratio of 12.12 and a beta of 1.04. The company's 50-day simple moving average is $147.86 and its two-hundred day simple moving average is $136.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12.

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

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.93%. 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.