Y Intercept Hong Kong Ltd Purchases 3,600 Shares of Matson, Inc. (NYSE:MATX)

Y Intercept Hong Kong Ltd boosted its position in shares of Matson, Inc. (NYSE:MATX) by 205.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,355 shares of the shipping company’s stock after acquiring an additional 3,600 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Matson were worth $764,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MATX. Redwood Wealth Management Group LLC purchased a new stake in shares of Matson during the 2nd quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in Matson during the second quarter valued at approximately $39,000. Harbor Capital Advisors Inc. purchased a new stake in Matson during the third quarter valued at approximately $50,000. Blue Trust Inc. raised its position in 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. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Matson during the 2nd quarter worth $79,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, SVP John Warren Sullivan sold 750 shares of Matson 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 sale, the senior vice president now directly owns 12,745 shares of the company’s stock, valued at approximately $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,145 shares of company stock worth $2,513,455. 2.32% of the stock is owned by corporate insiders.

Matson Stock Performance

MATX opened at $146.22 on Friday. The company has a 50 day simple moving average of $147.68 and a two-hundred day simple moving average of $136.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.86 billion, a P/E ratio of 12.16 and a beta of 1.04. Matson, Inc. has a 1-year low of $98.80 and a 1-year high of $169.12.

Matson (NYSE:MATX) last released its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share 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 company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter in the previous year, the company earned $3.40 EPS. Matson’s revenue for the quarter was up 16.3% on a year-over-year basis. Equities analysts forecast that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was 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.