Envestnet Asset Management Inc. Acquires 3,650 Shares of Matson, Inc. (NYSE:MATX)

Envestnet Asset Management Inc. lifted its holdings in Matson, Inc. (NYSE:MATXGet Rating) by 8.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 46,316 shares of the shipping company’s stock after buying an additional 3,650 shares during the period. Envestnet Asset Management Inc.’s holdings in Matson were worth $3,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. bought a new position in shares of Matson in the 1st quarter worth approximately $28,000. First Horizon Advisors Inc. increased its holdings in Matson by 1,573.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 435 shares of the shipping company’s stock worth $31,000 after acquiring an additional 409 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Matson in the 2nd quarter worth approximately $36,000. Heritage Financial Services LLC purchased a new stake in Matson in the 2nd quarter worth approximately $67,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Matson in the 1st quarter worth approximately $70,000. Institutional investors own 83.98% of the company’s stock.

Insider Buying and Selling at Matson

In other Matson news, SVP Grace M. Cerocke sold 500 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.77, for a total transaction of $34,885.00. Following the completion of the sale, the senior vice president now directly owns 10,313 shares of the company’s stock, valued at approximately $719,538.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Grace M. Cerocke sold 500 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $69.77, for a total value of $34,885.00. Following the completion of the transaction, the senior vice president now directly owns 10,313 shares of the company’s stock, valued at $719,538.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John P. Lauer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $68.41, for a total transaction of $136,820.00. Following the completion of the transaction, the executive vice president now directly owns 33,745 shares of the company’s stock, valued at $2,308,495.45. The disclosure for this sale can be found here. Insiders sold a total of 22,438 shares of company stock valued at $1,631,348 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Matson Trading Down 7.3 %

Shares of MATX opened at $67.57 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.46 and a quick ratio of 1.46. Matson, Inc. has a 1 year low of $60.35 and a 1 year high of $125.34. The company has a 50 day simple moving average of $68.95 and a two-hundred day simple moving average of $77.43. The firm has a market cap of $2.55 billion, a P/E ratio of 1.99 and a beta of 1.33.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, November 9th. Matson’s dividend payout ratio (DPR) is currently 3.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MATX shares. Wolfe Research started coverage on shares of Matson in a report on Tuesday, August 16th. They issued an “underperform” rating and a $80.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Matson from $93.00 to $81.00 in a report on Thursday, October 20th. Finally, StockNews.com lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Friday, November 4th.

Matson Profile

(Get Rating)

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

See Also

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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