Bridgewater Associates LP Sells 14,764 Shares of Matson, Inc. (NYSE:MATX)

Bridgewater Associates LP lessened its position in Matson, Inc. (NYSE:MATX - Free Report) by 68.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,904 shares of the shipping company's stock after selling 14,764 shares during the period. Bridgewater Associates LP's holdings in Matson were worth $985,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of Matson in the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC acquired a new position in Matson in the second quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in Matson during the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. bought a new stake in shares of Matson during the third quarter worth $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Matson in the 1st quarter worth $71,000. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In other Matson news, SVP John Warren Sullivan sold 750 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares of the company's stock, valued at $2,109,297.50. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the company'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 completion of the transaction, the executive vice president now owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,145 shares of company stock worth $2,649,185. Company insiders own 2.32% of the company's stock.

Analyst Ratings Changes

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

Matson Stock Up 1.9 %

Shares of NYSE MATX traded up $2.94 during mid-day trading on Monday, hitting $156.12. The company had a trading volume of 233,301 shares, compared to its average volume of 273,756. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $146.14 and a two-hundred day simple moving average of $134.29. The company has a market capitalization of $5.18 billion, a PE ratio of 12.99 and a beta of 1.06. Matson, Inc. has a one year low of $94.58 and a one year high of $169.12.

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

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.87%. Matson's dividend payout ratio (DPR) is currently 11.31%.

About Matson

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.