National Bank of Canada FI Has $543,000 Stake in Matson, Inc. (NYSE:MATX)

National Bank of Canada FI cut its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 80.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,808 shares of the shipping company's stock after selling 16,107 shares during the quarter. National Bank of Canada FI's holdings in Matson were worth $543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC increased its stake in Matson by 58.1% during the 2nd quarter. CWM LLC now owns 664 shares of the shipping company's stock worth $87,000 after acquiring an additional 244 shares during the period. SG Americas Securities LLC raised its stake in Matson by 164.4% in the second quarter. SG Americas Securities LLC now owns 4,272 shares of the shipping company's stock valued at $560,000 after purchasing an additional 2,656 shares in the last quarter. Blue Trust Inc. raised 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 purchasing an additional 413 shares in the last quarter. Raymond James & Associates lifted its position in Matson by 17.9% during the second quarter. Raymond James & Associates now owns 18,877 shares of the shipping company's stock worth $2,472,000 after purchasing an additional 2,866 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company's stock worth $1,255,000 after buying an additional 124 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the 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 directly owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Warren Sullivan sold 750 shares of Matson stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,145 shares of company stock valued at $2,513,455. 2.32% of the stock is currently owned by corporate insiders.

Matson Price Performance

Shares of MATX stock traded down $0.59 on Monday, reaching $145.63. The company had a trading volume of 198,302 shares, compared to its average volume of 272,005. The business's 50-day moving average is $147.86 and its 200 day moving average is $136.44. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. 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 stock has a market capitalization 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 earnings per share for the quarter, beating analysts' consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $3.40 earnings per share. Equities research analysts forecast that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

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

Analyst Upgrades and Downgrades

MATX has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Matson from a "strong-buy" rating to a "buy" rating in a 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.