Raymond James & Associates Has $2.65 Million Stake in Matson, Inc. (NYSE:MATX)

Raymond James & Associates trimmed its stake in Matson, Inc. (NYSE:MATX) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,552 shares of the shipping company’s stock after selling 325 shares during the period. Raymond James & Associates’ holdings in Matson were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Matson by 35.8% in the 1st quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock worth $2,172,000 after purchasing an additional 5,095 shares during the last quarter. LSV Asset Management grew its position in Matson by 18.1% in the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after purchasing an additional 43,324 shares during the last quarter. PAX Financial Group LLC acquired a new stake in Matson in the 1st quarter worth $605,000. Caxton Associates LP grew its position in Matson by 283.4% in the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock worth $925,000 after purchasing an additional 6,085 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in Matson by 31.5% in the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock worth $9,832,000 after purchasing an additional 17,992 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Matson

In related news, SVP Laura L. Rascon sold 744 shares of Matson stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at $1,597,208.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Matson news, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the completion of the transaction, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at approximately $1,597,208.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total transaction of $215,796.30. Following the completion of the transaction, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at approximately $1,065,352.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,712 shares of company stock valued at $2,855,398 in the last ninety days. Insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MATX shares. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Matson Price Performance

NYSE:MATX opened at $159.30 on Wednesday. The company has a 50-day moving average of $136.73 and a 200-day moving average of $128.27. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.25 and a beta of 1.06. Matson, Inc. has a 52 week low of $88.03 and a 52 week high of $160.18. 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 (NYSE:MATX) last announced its quarterly earnings results 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. 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 period last year, the firm posted $3.40 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts anticipate that Matson, Inc. will post 12.11 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors 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 0.85%. The ex-dividend date 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.