Algert Global LLC Has $9.32 Million Stock Position in Matson, Inc. (NYSE:MATX)

Algert Global LLC cut its holdings in shares of Matson, Inc. (NYSE:MATX) by 18.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,315 shares of the shipping company’s stock after selling 15,270 shares during the quarter. Algert Global LLC’s holdings in Matson were worth $9,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TruNorth Capital Management LLC purchased a new stake in shares of Matson in the second quarter worth approximately $27,000. Redwood Wealth Management Group LLC acquired a new position in Matson in the 2nd quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in Matson in the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Matson during the 3rd quarter valued at $50,000. Finally, Blue Trust Inc. grew its holdings in shares of Matson by 226.9% during the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Shares of NYSE:MATX opened at $153.95 on Friday. The stock has a market capitalization of $5.11 billion, a P/E ratio of 12.81 and a beta of 1.06. The business has a 50-day moving average of $143.59 and a two-hundred day moving average of $132.32. Matson, Inc. has a fifty-two week low of $93.75 and a fifty-two week high of $169.12. 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 announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter in the prior year, the business earned $3.40 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. On average, equities research analysts predict that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on MATX shares. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Insider Buying and Selling

In other news, CEO Matthew J. Cox sold 7,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now directly owns 9,392 shares in the company, valued at $1,274,776.16. This trade represents a 9.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,645 shares of company stock worth $3,677,960 in the last quarter. 2.32% of the stock is currently owned by company 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.