Charles Schwab Investment Management Inc. Buys 20,568 Shares of Matson, Inc. (NYSE:MATX)

Charles Schwab Investment Management Inc. raised its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 395,716 shares of the shipping company's stock after purchasing an additional 20,568 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.19% of Matson worth $56,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Matson by 4,167,726.1% in the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company's stock valued at $136,716,000 after purchasing an additional 958,577 shares in the last quarter. American Century Companies Inc. grew its holdings in Matson by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company's stock valued at $119,422,000 after buying an additional 36,901 shares in the last quarter. Encompass Capital Advisors LLC increased its position in shares of Matson by 52.1% during the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company's stock valued at $46,680,000 after buying an additional 122,017 shares during the period. Millennium Management LLC increased its position in shares of Matson by 126.5% during the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company's stock valued at $31,448,000 after buying an additional 134,092 shares during the period. Finally, Forest Avenue Capital Management LP lifted its stake in Matson by 50.2% in the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company's stock worth $30,445,000 after purchasing an additional 77,731 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In related news, CEO Matthew J. Cox sold 6,499 shares of the company's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the sale, the chief executive officer now directly owns 208,898 shares in the company, valued at $30,043,710.36. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the business's stock in a transaction dated 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 $3,629,929.87. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,145 shares of company stock valued at $2,649,185. 2.32% of the stock is currently owned by insiders.

Matson Price Performance

Shares of NYSE MATX traded up $0.10 during trading hours on Friday, reaching $153.18. 124,024 shares of the stock traded hands, compared to its average volume of 271,519. The company's 50-day simple moving average is $146.14 and its two-hundred day simple moving average is $134.15. The company has a market capitalization of $5.09 billion, a P/E ratio of 12.74 and a beta of 1.06. Matson, Inc. has a 52-week low of $93.94 and a 52-week high of $169.12. 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 (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. The firm 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 business's revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $3.40 earnings per share. Equities research analysts forecast that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, November 7th. Matson's dividend payout ratio is presently 11.31%.

Wall Street Analysts Forecast Growth

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

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.