Thrivent Financial for Lutherans Sells 19,961 Shares of Matson, Inc. (NYSE:MATX)

Thrivent Financial for Lutherans decreased its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,369 shares of the shipping company's stock after selling 19,961 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Matson worth $3,761,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company's stock valued at $447,810,000 after purchasing an additional 215,452 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Matson by 4.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,594 shares of the shipping company's stock valued at $3,098,000 after buying an additional 1,066 shares in the last quarter. BOKF NA grew its stake in Matson by 88.2% during the first quarter. BOKF NA now owns 3,446 shares of the shipping company's stock worth $384,000 after buying an additional 1,615 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Matson by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company's stock worth $3,058,000 after buying an additional 1,214 shares in the last quarter. Finally, Caxton Associates LP raised its stake in shares of Matson by 283.4% in the first quarter. Caxton Associates LP now owns 8,232 shares of the shipping company's stock valued at $925,000 after acquiring an additional 6,085 shares during the last quarter. 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 dated Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now owns 215,397 shares in the company, valued at approximately $29,546,006.49. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the transaction, the executive vice president now owns 21,871 shares in the company, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,645 shares of company stock valued at $3,677,960 over the last ninety days. Insiders own 2.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MATX. StockNews.com lowered Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Finally, Stephens upped their price target 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.

Matson Trading Up 1.4 %

NYSE:MATX traded up $2.20 during trading hours on Monday, hitting $156.15. 497,953 shares of the stock were exchanged, compared to its average volume of 274,986. The company has a market capitalization of $5.19 billion, a P/E ratio of 12.81 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. The company's 50 day moving average is $144.02 and its two-hundred day moving average is $132.91. Matson, Inc. has a twelve month low of $93.75 and a twelve month high of $169.12.

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, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.40 earnings per share. On average, sell-side analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. Matson's dividend payout ratio is 11.31%.

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.