Citigroup Inc. Has $6.90 Million Stock Position in Matson, Inc. (NYSE:MATX)

Citigroup Inc. lessened its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 62.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,349 shares of the shipping company's stock after selling 79,261 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Matson worth $6,896,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in shares of Matson by 4,167,726.1% during the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company's stock worth $136,716,000 after acquiring an additional 958,577 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Matson by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company's stock worth $119,422,000 after purchasing an additional 36,901 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Matson by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company's stock worth $56,437,000 after purchasing an additional 20,568 shares in the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of Matson by 52.1% during the 2nd 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 last quarter. Finally, Millennium Management LLC increased its stake in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company's stock worth $31,448,000 after purchasing an additional 134,092 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Price Performance

Shares of MATX stock traded up $0.10 during mid-day trading on Friday, reaching $153.18. The company's stock had a trading volume of 124,024 shares, compared to its average volume of 271,519. The firm's 50-day moving average is $146.14 and its two-hundred day moving average is $134.15. The company has a market cap of $5.09 billion, a P/E ratio of 12.74 and a beta of 1.06. Matson, Inc. has a 1-year low of $93.94 and a 1-year high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

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

Matson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MATX. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th.

Insider Transactions at Matson

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction 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 owns 21,871 shares in the company, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Leonard P. Isotoff sold 492 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the sale, the senior vice president now owns 4,254 shares of the company's stock, valued at approximately $686,000.04. This trade represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,145 shares of company stock valued at $2,649,185. 2.32% of the stock is owned by insiders.

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.