Matson, Inc. (NYSE:MATX) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Matson, Inc. (NYSE:MATX) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,228 shares of the shipping company’s stock after selling 1,177 shares during the quarter. Tidal Investments LLC owned about 0.08% of Matson worth $4,026,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Natixis Advisors LLC raised its position in Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after acquiring an additional 78 shares in the last quarter. Caprock Group LLC grew its stake in shares of Matson by 4.2% in 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 last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Matson by 6.9% in 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 in the last quarter. SummerHaven Investment Management LLC lifted its stake in Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock valued at $1,255,000 after purchasing an additional 124 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Matson by 1.9% during the third quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company’s stock worth $1,074,000 after buying an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Performance

Matson stock opened at $146.22 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $4.86 billion, a P/E ratio of 12.16 and a beta of 1.04. Matson, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $169.12. The firm’s 50 day simple moving average is $147.86 and its 200-day simple moving average is $136.33.

Matson (NYSE:MATX) last posted its quarterly earnings data 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 firm 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 company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.40 EPS. As a group, equities research analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

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

Insider Buying and Selling

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the sale, the senior vice president now owns 4,254 shares in the company, valued at $686,000.04. This represents a 10.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of Matson stock in a transaction on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares of the company’s stock, valued at $30,043,710.36. This trade 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 valued at $2,513,455. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MATX. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research 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.