Royce & Associates LP decreased its position in Matson, Inc. (NYSE:MATX - Free Report) by 44.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,796 shares of the shipping company's stock after selling 3,809 shares during the quarter. Royce & Associates LP's holdings in Matson were worth $684,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in Matson during the 2nd quarter worth approximately $27,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matson in the 2nd quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new position in Matson during the second quarter worth about $39,000. Harbor Capital Advisors Inc. acquired a new position in Matson during the third quarter worth approximately $50,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Matson in the first quarter valued at approximately $71,000. 84.76% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CEO Matthew J. Cox sold 7,500 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at $29,546,006.49. This represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter T. Heilmann sold 5,404 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total transaction of $877,393.44. Following the sale, the executive vice president now directly owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,645 shares of company stock valued at $3,677,960 over the last quarter. 2.32% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have commented on MATX shares. Stephens lifted their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Wolfe Research downgraded shares of Matson from an "outperform" rating to a "peer perform" rating in a report on Monday. Finally, StockNews.com downgraded shares of Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th.
Read Our Latest Stock Report on Matson
Matson Stock Performance
NYSE MATX opened at $151.65 on Thursday. The firm has a 50-day moving average price of $142.64 and a two-hundred day moving average price of $132.04. Matson, Inc. has a 12-month low of $93.75 and a 12-month high of $169.12. The company has a market capitalization of $5.04 billion, a P/E ratio of 12.62 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.
Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.40 earnings per share. Analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current year.
Matson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, November 7th. Matson's dividend payout ratio (DPR) is presently 11.31%.
About Matson
(
Free Report)
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.
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