Matson, Inc. (NYSE:MATX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Matson, Inc. (NYSE:MATX) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,241 shares of the shipping company’s stock after selling 571 shares during the quarter. Victory Capital Management Inc.’s holdings in Matson were worth $5,882,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MATX. SG Americas Securities LLC acquired a new position in shares of Matson in the 1st quarter worth approximately $182,000. Vanguard Group Inc. increased its stake in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after buying an additional 215,452 shares during the period. UniSuper Management Pty Ltd purchased a new stake in Matson during the 1st quarter worth approximately $647,000. CANADA LIFE ASSURANCE Co increased its stake in Matson by 4.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,594 shares of the shipping company’s stock worth $3,098,000 after buying an additional 1,066 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Matson during the 1st quarter worth approximately $542,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MATX has been the topic of several recent research reports. Stephens upped their target price on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Trading Up 0.9 %

Shares of NYSE:MATX opened at $153.95 on Friday. Matson, Inc. has a 52 week low of $93.75 and a 52 week high of $169.12. The company’s 50 day moving average is $143.59 and its two-hundred day moving average is $132.32. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.11 billion, a PE ratio of 12.81 and a beta of 1.06.

Matson (NYSE:MATX) last posted its 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 firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $3.40 EPS. Equities analysts predict that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

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 $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is 11.31%.

Insider Activity at Matson

In related news, SVP John Warren Sullivan sold 750 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares in the company, valued at $2,109,297.50. This represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the sale, the executive vice president now owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,645 shares of company stock valued at $3,677,960 in the last ninety days. Insiders own 2.32% of the company’s stock.

Matson 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.