Matson, Inc. (NYSE:MATX) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in Matson, Inc. (NYSE:MATX - Free Report) by 43.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,493 shares of the shipping company's stock after selling 6,618 shares during the period. M&T Bank Corp's holdings in Matson were worth $1,212,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MATX. Intech Investment Management LLC grew its position in Matson by 43.5% in the 3rd quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock valued at $2,051,000 after acquiring an additional 4,361 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Matson by 98.1% in the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company's stock valued at $1,315,000 after purchasing an additional 4,973 shares in the last quarter. Summit Global Investments increased its stake in Matson by 78.0% during the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company's stock worth $1,487,000 after buying an additional 4,567 shares during the period. Quest Partners LLC lifted its holdings in Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company's stock worth $1,476,000 after buying an additional 6,080 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in 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 buying an additional 5,439 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Matson

In related news, CEO Matthew J. Cox sold 6,499 shares of Matson stock in a transaction on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leonard P. Isotoff sold 492 shares of the company's stock in a transaction 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 transaction, the senior vice president now owns 4,254 shares of the company's stock, valued at $686,000.04. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,145 shares of company stock valued at $2,513,455. Corporate insiders own 2.32% of the company's stock.

Matson Stock Down 0.4 %

NYSE MATX traded down $0.59 on Monday, hitting $145.63. 198,304 shares of the stock were exchanged, compared to its average volume of 272,005. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The company has a 50-day moving average price of $147.86 and a 200-day moving average price of $136.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.84 billion, a PE ratio of 12.11 and a beta of 1.04.

Matson (NYSE:MATX - Get Free Report) last issued its 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 the consensus estimate of $965.73 million. During the same quarter in the previous year, the firm posted $3.40 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. Sell-side analysts anticipate that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

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

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.