Matson, Inc. (NYSE:MATX) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX) by 1.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,528 shares of the shipping company’s stock after purchasing an additional 139 shares during the period. Verition Fund Management LLC’s holdings in Matson were worth $1,074,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hyperion Capital Advisors LP purchased a new stake in shares of Matson in the third quarter worth about $262,000. CreativeOne Wealth LLC lifted its holdings in Matson by 41.5% in the third quarter. CreativeOne Wealth LLC now owns 2,378 shares of the shipping company’s stock valued at $339,000 after acquiring an additional 697 shares during the period. Cynosure Group LLC purchased a new stake in Matson in the 3rd quarter worth approximately $384,000. BNP Paribas Financial Markets grew its stake in shares of Matson by 7.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock worth $1,437,000 after purchasing an additional 703 shares during the period. Finally, Hancock Whitney Corp purchased a new position in shares of Matson during the 3rd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of several analyst reports. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Insider Buying and Selling

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Cox sold 6,499 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 208,898 shares of the company’s stock, valued at approximately $30,043,710.36. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,145 shares of company stock worth $2,513,455. 2.32% of the stock is owned by corporate insiders.

Matson Trading Down 0.8 %

Shares of NYSE:MATX opened at $151.14 on Monday. The business’s 50 day moving average price is $147.28 and its 200-day moving average price is $135.57. Matson, Inc. has a 1 year low of $94.58 and a 1 year high of $169.12. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

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

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.90%. Matson’s dividend payout ratio is presently 11.31%.

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.