Y Intercept Hong Kong Ltd Raises Stock Holdings in Matson, Inc. (NYSE:MATX)

Y Intercept Hong Kong Ltd lifted its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 205.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,355 shares of the shipping company's stock after buying an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd's holdings in Matson were worth $764,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Redwood Wealth Management Group LLC purchased a new position in Matson during the second quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in shares of Matson in the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. purchased a new position in shares of Matson in the 3rd quarter worth approximately $50,000. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 413 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Matson during the second quarter valued at approximately $79,000. Institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

MATX has been the subject of a number of recent analyst reports. Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a research note 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 Stock Performance

NYSE MATX traded up $0.32 on Friday, hitting $146.22. 150,086 shares of the stock traded hands, compared to its average volume of 272,311. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The business's fifty day moving average is $147.86 and its two-hundred day moving average is $136.33. Matson, Inc. has a 12 month low of $98.80 and a 12 month high of $169.12. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.16 and a beta of 1.04.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million during 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 company earned $3.40 EPS. As a group, equities analysts anticipate that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

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

Insider Buying and Selling

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the transaction, the senior vice president now owns 4,254 shares in the company, valued at $686,000.04. This trade represents a 10.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $143.82, for a total value of $934,686.18. Following the sale, the chief executive officer now owns 208,898 shares in the company, valued at approximately $30,043,710.36. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,145 shares of company stock valued at $2,513,455. Company insiders own 2.32% of the company's stock.

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.