Caisse DE Depot ET Placement DU Quebec Takes $6.74 Million Position in Matson, Inc. (NYSE:MATX)

Caisse DE Depot ET Placement DU Quebec acquired a new position in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 47,223 shares of the shipping company’s stock, valued at approximately $6,735,000. Caisse DE Depot ET Placement DU Quebec owned about 0.14% of Matson as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MATX. TruNorth Capital Management LLC bought a new stake in shares of Matson in the second quarter valued at approximately $27,000. Redwood Wealth Management Group LLC purchased a new position in Matson in the 2nd quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new stake in Matson during the 2nd quarter valued at $39,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson during the third quarter worth $50,000. Finally, Blue Trust Inc. boosted its holdings in shares of Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after acquiring an additional 413 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Trading Up 1.9 %

Matson stock opened at $156.12 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a fifty-two week low of $94.58 and a fifty-two week high of $169.12. The stock has a market cap of $5.18 billion, a P/E ratio of 12.99 and a beta of 1.06. The firm’s fifty day moving average price is $146.49 and its 200-day moving average price is $134.58.

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 analysts’ consensus estimates of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.40 EPS. Equities research analysts forecast that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.87%. Matson’s payout ratio is presently 11.31%.

Insiders Place Their Bets

In other news, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following 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. Insiders sold a total of 17,145 shares of company stock valued at $2,649,185 in the last quarter. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MATX shares. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

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.