Matson, Inc. (NYSE:MATX) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,229 shares of the shipping company's stock after selling 6,300 shares during the quarter. HighTower Advisors LLC owned approximately 0.08% of Matson worth $3,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Matson during the second quarter worth about $27,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matson in the 2nd quarter valued at about $34,000. International Assets Investment Management LLC purchased a new position in Matson during the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. acquired a new position in Matson during the third quarter worth approximately $50,000. Finally, Blue Trust Inc. lifted its stake in Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company's stock valued at $78,000 after buying an additional 413 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Performance

Matson stock traded up $2.19 during mid-day trading on Thursday, reaching $145.98. 203,925 shares of the company were exchanged, compared to its average volume of 272,821. The firm's 50-day simple moving average is $147.68 and its two-hundred day simple moving average is $136.06. Matson, Inc. has a twelve month low of $94.58 and a twelve month high of $169.12. The firm has a market cap of $4.85 billion, a PE ratio of 12.14 and a beta of 1.04. 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 released 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. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $962.00 million during the quarter, compared to analysts' expectations of $965.73 million. During the same quarter in the prior year, the business earned $3.40 earnings per share. The company's quarterly revenue was up 16.3% compared to the same quarter last year. Equities analysts predict that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 7th. Matson's payout ratio is 11.31%.

Insider Activity

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the transaction, the senior vice president now owns 4,254 shares in the company, valued at approximately $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Cox sold 6,499 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now owns 208,898 shares in the company, valued at $30,043,710.36. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,145 shares of company stock valued at $2,513,455 over the last quarter. Corporate insiders own 2.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MATX. StockNews.com lowered shares of Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th. Wolfe Research downgraded shares of Matson from an "outperform" rating to a "peer perform" rating in a research 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.