State of Alaska Department of Revenue Sells 870 Shares of Matson, Inc. (NYSE:MATX)

State of Alaska Department of Revenue trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,164 shares of the shipping company’s stock after selling 870 shares during the quarter. State of Alaska Department of Revenue’s holdings in Matson were worth $2,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MATX. TruNorth Capital Management LLC bought a new stake in shares of Matson during the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC purchased a new position in Matson during the second quarter valued at $34,000. International Assets Investment Management LLC bought a new stake in Matson during the second quarter valued at about $39,000. DekaBank Deutsche Girozentrale purchased a new stake in Matson in the first quarter worth about $71,000. Finally, Blue Trust Inc. raised its stake in shares of Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after buying an additional 413 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MATX has been the subject of a number of recent research reports. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens upped their price target on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Matson Price Performance

Shares of Matson stock opened at $154.91 on Friday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 18.27 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $135.07 and its 200-day simple moving average is $126.76. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $155.96.

Matson (NYSE:MATX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.91. Matson had a return on equity of 13.87% and a net margin of 10.41%. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same quarter last year, the company earned $3.40 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, analysts expect that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. Matson’s dividend payout ratio is 16.04%.

Insider Buying and Selling

In other Matson news, SVP Laura L. Rascon sold 744 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now owns 12,369 shares of the company’s stock, valued at $1,597,208.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Matson news, EVP Peter T. Heilmann sold 10,000 shares of Matson stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $129.37, for a total value of $1,293,700.00. Following the sale, the executive vice president now owns 38,356 shares of the company’s stock, valued at $4,962,115.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Laura L. Rascon sold 744 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the transaction, the senior vice president now owns 12,369 shares of the company’s stock, valued at $1,597,208.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,712 shares of company stock worth $4,149,098. 2.32% of the stock is owned by insiders.

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.