Matson, Inc. (NYSE:MATX) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in shares of Matson, Inc. (NYSE:MATX) by 20.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,229 shares of the shipping company’s stock after selling 6,300 shares during the period. HighTower Advisors LLC’s holdings in Matson were worth $3,604,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC increased its holdings in Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares during the period. Caprock Group LLC increased its holdings in Matson by 4.2% during the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock worth $237,000 after purchasing an additional 107 shares during the period. SummerHaven Investment Management LLC increased its holdings in Matson by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after purchasing an additional 124 shares during the period. Finally, Verition Fund Management LLC increased its holdings in Matson by 1.9% during the 3rd quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company’s stock worth $1,074,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the sale, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Warren Sullivan sold 750 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the sale, the senior vice president now directly owns 12,745 shares of the company’s stock, 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. Insiders have sold 16,145 shares of company stock worth $2,513,455 in the last quarter. 2.32% of the stock is owned by insiders.

Matson Trading Down 1.8 %

MATX opened at $143.78 on Thursday. Matson, Inc. has a one year low of $94.58 and a one year high of $169.12. The company has a market cap of $4.77 billion, a P/E ratio of 11.96 and a beta of 1.04. 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 50-day simple moving average is $147.51 and its 200-day simple moving average is $135.99.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the prior year, the business posted $3.40 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities research analysts expect that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The company 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. 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 0.95%. Matson’s dividend payout ratio is presently 11.31%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a 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.