Matson, Inc. (NYSE:MATX) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Matson, Inc. (NYSE:MATX) by 0.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 784,020 shares of the shipping company’s stock after buying an additional 1,068 shares during the quarter. Geode Capital Management LLC owned about 2.36% of Matson worth $111,838,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MATX. Pacer Advisors Inc. grew its position in shares of Matson by 4,167,726.1% during the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after acquiring an additional 958,577 shares during the last quarter. American Century Companies Inc. boosted its stake in Matson by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock worth $119,422,000 after purchasing an additional 36,901 shares during the period. Charles Schwab Investment Management Inc. grew its position in Matson by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,716 shares of the shipping company’s stock worth $56,437,000 after purchasing an additional 20,568 shares during the last quarter. Encompass Capital Advisors LLC grew its position in Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after purchasing an additional 122,017 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Matson by 126.5% in the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after purchasing an additional 134,092 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at Matson

In other Matson news, SVP John Warren Sullivan sold 750 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,145 shares of company stock valued at $2,513,455. 2.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MATX. StockNews.com lowered 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.

Matson Stock Down 1.4 %

MATX stock opened at $143.64 on Wednesday. The stock has a market capitalization of $4.77 billion, a PE ratio of 11.94 and a beta of 1.04. The company has a fifty day moving average of $148.07 and a 200-day moving average of $136.59. 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 one year low of $100.50 and a one year high of $169.12.

Matson (NYSE:MATX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. The firm 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%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.40 earnings per share. As a group, analysts expect that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, November 7th. Matson’s dividend payout ratio is presently 11.31%.

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.