Matson, Inc. (NYSE:MATX) Shares Sold by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP lowered its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 228,838 shares of the shipping company's stock after selling 3,617 shares during the quarter. Matson makes up 4.0% of Forest Avenue Capital Management LP's holdings, making the stock its 13th largest position. Forest Avenue Capital Management LP owned about 0.69% of Matson worth $32,637,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of Matson by 43.5% during the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock valued at $2,051,000 after buying an additional 4,361 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Matson by 31.5% in the second quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company's stock valued at $9,832,000 after purchasing an additional 17,992 shares during the period. Edgestream Partners L.P. increased its stake in shares of Matson by 98.1% during the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company's stock worth $1,315,000 after purchasing an additional 4,973 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Matson by 93.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,234 shares of the shipping company's stock worth $1,471,000 after purchasing an additional 5,439 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Matson in the 2nd quarter valued at about $559,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Down 2.5 %

MATX stock traded down $3.86 during trading on Wednesday, hitting $153.11. 232,343 shares of the company's stock were exchanged, compared to its average volume of 274,583. The business has a 50-day moving average price of $145.03 and a two-hundred day moving average price of $133.49. 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 stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 13.07 and a beta of 1.06. Matson, Inc. has a 52-week low of $93.75 and a 52-week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released 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. 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 the consensus estimate of $965.73 million. During the same quarter in the prior year, the firm earned $3.40 EPS. Matson's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities research analysts expect that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on MATX. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th.

Insider Buying and Selling

In other news, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the sale, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. This trade represents a 10.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares in the company, valued at approximately $1,274,776.16. This represents a 9.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,645 shares of company stock valued at $3,677,960 over the last three months. 2.32% of the stock is currently owned by company insiders.

Matson 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.