Matson, Inc. (NYSE:MATX) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC lifted its holdings in Matson, Inc. (NYSE:MATX) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,217 shares of the shipping company’s stock after purchasing an additional 78 shares during the period. Natixis Advisors LLC’s holdings in Matson were worth $2,313,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Matson by 5.7% during the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after acquiring an additional 215,452 shares during the period. American Century Companies Inc. grew its stake in Matson by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock worth $119,422,000 after purchasing an additional 36,901 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after purchasing an additional 122,017 shares during the period. Millennium Management LLC raised its position in Matson by 126.5% in the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after purchasing an additional 134,092 shares in the last quarter. Finally, Forest Avenue Capital Management LP boosted its stake in shares of Matson by 50.2% in the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock valued at $30,445,000 after buying an additional 77,731 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Matson

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the sale, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Cox sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the transaction, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at $29,546,006.49. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,645 shares of company stock worth $3,677,960 over the last ninety days. 2.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on MATX shares. Stephens raised their target price on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a 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 Stock Performance

Shares of MATX opened at $153.95 on Monday. The company’s 50 day simple moving average is $144.02 and its 200-day simple moving average is $132.76. Matson, Inc. has a 12-month low of $93.75 and a 12-month high of $169.12. The firm has a market cap of $5.11 billion, a PE ratio of 12.81 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last announced its earnings results 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. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the prior year, the firm earned $3.40 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 7th. Matson’s payout ratio is 11.31%.

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.