State Street Corp Sells 2,466 Shares of Matson, Inc. (NYSE:MATX)

State Street Corp lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 0.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,297,444 shares of the shipping company’s stock after selling 2,466 shares during the quarter. State Street Corp’s holdings in Matson were worth $185,041,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in Matson by 58.1% during the 2nd quarter. CWM LLC now owns 664 shares of the shipping company’s stock worth $87,000 after acquiring an additional 244 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Matson by 164.4% in the 2nd quarter. SG Americas Securities LLC now owns 4,272 shares of the shipping company’s stock valued at $560,000 after purchasing an additional 2,656 shares during the period. Blue Trust Inc. raised its position 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 purchasing an additional 413 shares during the period. Raymond James & Associates lifted its holdings in shares of Matson by 17.9% during the second quarter. Raymond James & Associates now owns 18,877 shares of the shipping company’s stock worth $2,472,000 after buying an additional 2,866 shares in the last quarter. Finally, Paradiem LLC raised its holdings in Matson by 22.2% in the 2nd quarter. Paradiem LLC now owns 86,162 shares of the shipping company’s stock valued at $11,285,000 after acquiring an additional 15,660 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Matson Price Performance

Shares of NYSE MATX opened at $145.98 on Friday. The stock has a fifty day moving average of $147.68 and a 200-day moving average of $136.06. The stock has a market cap of $4.85 billion, a PE ratio of 12.14 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. Matson, Inc. has a fifty-two week low of $94.58 and a fifty-two week high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $3.40 earnings per share. Equities research analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders 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 annualized dividend and a dividend yield of 0.93%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MATX. StockNews.com cut shares of 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 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.