Matson, Inc. (NYSE:MATX) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its holdings in Matson, Inc. (NYSE:MATX) by 54.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 538,603 shares of the shipping company’s stock after selling 632,450 shares during the quarter. ArrowMark Colorado Holdings LLC owned 1.62% of Matson worth $76,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. Paloma Partners Management Co acquired a new stake in shares of Matson in the 3rd quarter worth approximately $328,000. Maverick Capital Ltd. grew its holdings in Matson by 3.6% in the third quarter. Maverick Capital Ltd. now owns 7,656 shares of the shipping company’s stock valued at $1,092,000 after purchasing an additional 263 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of Matson by 22.2% in the third quarter. Edgestream Partners L.P. now owns 12,275 shares of the shipping company’s stock valued at $1,751,000 after buying an additional 2,231 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Matson during the 3rd quarter worth $6,735,000. Finally, Verition Fund Management LLC grew its stake in Matson by 1.9% in the 3rd quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company’s stock valued at $1,074,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the sale, the executive vice president now owns 21,871 shares of the company’s stock, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the transaction, the senior vice president now directly owns 4,254 shares in the company, valued at $686,000.04. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,145 shares of company stock valued at $2,649,185. Insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of analyst reports. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Matson Stock Performance

Shares of MATX stock opened at $153.18 on Monday. 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 $5.09 billion, a PE ratio of 12.74 and a beta of 1.06. The company’s fifty day simple moving average is $146.14 and its 200-day simple moving average is $134.29. Matson, Inc. has a 52 week low of $93.94 and a 52 week 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 the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million during 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%. Matson’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $3.40 earnings per share. As a group, equities research analysts anticipate that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio is currently 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.