10,000 Shares in Matson, Inc. (NYSE:MATX) Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. acquired a new position in Matson, Inc. (NYSE:MATX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the shipping company's stock, valued at approximately $1,426,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in shares of Matson in the 2nd quarter worth $27,000. Redwood Wealth Management Group LLC bought a new position in Matson in the 2nd quarter worth $34,000. International Assets Investment Management LLC bought a new position in Matson in the 2nd quarter worth $39,000. Harbor Capital Advisors Inc. bought a new position in Matson in the 3rd quarter worth $50,000. Finally, Blue Trust Inc. boosted its holdings in Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company's stock worth $78,000 after buying an additional 413 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Price Performance

Shares of MATX traded down $6.11 during midday trading on Monday, hitting $145.03. 275,662 shares of the company traded hands, compared to its average volume of 273,464. The firm has a 50 day moving average of $147.32 and a 200-day moving average of $135.76. 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 $4.82 billion, a price-to-earnings ratio of 12.07 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 data 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 business 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. The business's revenue was up 16.3% on a year-over-year basis. On average, analysts forecast that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, November 7th. Matson's payout ratio is 11.31%.

Insider Activity at Matson

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the sale, the executive vice president now directly owns 21,871 shares of the company's stock, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of the stock in a transaction dated Monday, September 30th. The stock was 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 trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,145 shares of company stock valued at $2,513,455. Insiders own 2.32% of the company's stock.

Analyst Upgrades and Downgrades

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

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.