Matson, Inc. (NYSE:MATX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,032 shares of the shipping company’s stock after selling 4,280 shares during the quarter. Rhumbline Advisers’ holdings in Matson were worth $14,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in Matson during the 2nd quarter valued at $27,000. Security National Bank bought a new stake in Matson during the 4th quarter valued at $36,000. International Assets Investment Management LLC bought a new stake in Matson during the 2nd quarter valued at $39,000. Evermay Wealth Management LLC bought a new stake in Matson during the 4th quarter valued at $66,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Matson during the 1st quarter valued at $71,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the transaction, the chief financial officer now directly owns 126,418 shares in the company, valued at approximately $15,579,754.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the transaction, the chief financial officer now owns 126,418 shares in the company, valued at $15,579,754.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard S. Kinney sold 1,615 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total value of $215,796.30. Following the completion of the sale, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at $1,065,352.26. The disclosure for this sale can be found here. Insiders have sold 104,376 shares of company stock worth $13,565,120 in the last three months. 2.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens lifted their target price on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Matson Stock Down 0.1 %

MATX opened at $125.38 on Wednesday. Matson, Inc. has a one year low of $82.68 and a one year high of $138.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $130.55 and its 200-day moving average is $120.04. The company has a market capitalization of $4.21 billion, a PE ratio of 14.79 and a beta of 1.07.

Matson (NYSE:MATX) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The company had revenue of $847.40 million for the quarter, compared to the consensus estimate of $861.68 million. On average, equities analysts predict that Matson, Inc. will post 10.49 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from Matson’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s payout ratio is presently 16.04%.

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.