Concentric Capital Strategies LP Purchases Shares of 8,068 Matson, Inc. (NYSE:MATX)

Concentric Capital Strategies LP bought a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,068 shares of the shipping company's stock, valued at approximately $1,151,000.

Several other large investors have also made changes to their positions in MATX. Price T Rowe Associates Inc. MD grew its holdings in Matson by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company's stock valued at $3,058,000 after buying an additional 1,214 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Matson during the 1st quarter worth $71,000. CWM LLC grew its holdings in shares of Matson by 58.1% during the 2nd quarter. CWM LLC now owns 664 shares of the shipping company's stock worth $87,000 after purchasing an additional 244 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of Matson by 2.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 25,032 shares of the shipping company's stock worth $3,278,000 after purchasing an additional 715 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Matson by 164.4% during the 2nd quarter. SG Americas Securities LLC now owns 4,272 shares of the shipping company's stock worth $560,000 after purchasing an additional 2,656 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Performance

Shares of MATX stock traded down $3.61 during midday trading on Tuesday, hitting $152.51. The company had a trading volume of 77,422 shares, compared to its average volume of 272,884. The company's 50 day simple moving average is $146.49 and its 200 day simple moving average is $134.58. Matson, Inc. has a 52-week low of $94.58 and a 52-week high of $169.12. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 12.99 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 (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, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to analysts' expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned $3.40 EPS. Research analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, November 7th. Matson's dividend payout ratio is presently 11.31%.

Insider Buying and Selling at Matson

In other 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 sale, the executive vice president now owns 21,871 shares of the company's stock, valued at $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Warren Sullivan sold 750 shares of Matson stock in a transaction on 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 of the company's stock, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,145 shares of company stock worth $2,649,185. Corporate insiders own 2.32% of the company's stock.

Analyst Ratings Changes

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

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.