Advisors Asset Management Inc. Grows Stake in Matson, Inc. (NYSE:MATX)

Advisors Asset Management Inc. lifted its stake in Matson, Inc. (NYSE:MATX) by 53.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,572 shares of the shipping company’s stock after purchasing an additional 891 shares during the quarter. Advisors Asset Management Inc.’s holdings in Matson were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MATX. Caprock Group LLC lifted its position in Matson by 4.2% in the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after acquiring an additional 91 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Matson by 142.5% during the third quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock valued at $1,476,000 after purchasing an additional 6,080 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Matson by 0.5% during the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after buying an additional 78 shares during the last quarter. Aigen Investment Management LP increased its holdings in Matson by 15.7% in the 3rd quarter. Aigen Investment Management LP now owns 6,342 shares of the shipping company’s stock worth $904,000 after buying an additional 860 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Matson by 16.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,787 shares of the shipping company’s stock worth $397,000 after buying an additional 391 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, SVP John Warren Sullivan sold 750 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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 approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the business’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 completion of the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,145 shares of company stock worth $2,649,185. Company insiders own 2.32% of the company’s stock.

Matson Stock Performance

MATX opened at $153.08 on Friday. The company’s 50 day moving average is $145.76 and its 200 day moving average is $133.76. 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 $5.08 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. Matson, Inc. has a 12-month low of $93.75 and a 12-month high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the previous year, the firm posted $3.40 EPS. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities research 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. Investors of record on Thursday, November 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio is 11.31%.

Analyst Ratings Changes

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

About Matson

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.