Coldstream Capital Management Inc. Sells 434 Shares of Matson, Inc. (NYSE:MATX)

Coldstream Capital Management Inc. lessened its stake in Matson, Inc. (NYSE:MATX) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,436 shares of the shipping company’s stock after selling 434 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Matson were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MATX. TruNorth Capital Management LLC bought a new position in Matson during the 2nd quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in shares of Matson during the 2nd quarter valued at $39,000. Security National Bank purchased a new position in shares of Matson in the 4th quarter worth $36,000. Blue Trust Inc. grew 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. Finally, Evermay Wealth Management LLC purchased a new stake in Matson during the fourth quarter valued at approximately $66,000. Institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

NYSE MATX opened at $127.48 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. Matson, Inc. has a 1-year low of $82.68 and a 1-year high of $138.84. The business has a 50 day simple moving average of $130.48 and a two-hundred day simple moving average of $120.10. The stock has a market capitalization of $4.28 billion, a PE ratio of 15.03 and a beta of 1.07.

Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating the consensus estimate of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The business had revenue of $847.40 million during the quarter, compared to analyst estimates of $861.68 million. On average, research analysts predict that Matson, Inc. will post 10.49 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. Matson’s dividend payout ratio is presently 16.04%.

Analyst Ratings Changes

MATX has been the topic of several analyst reports. Stephens lifted their price target on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Insider Transactions at Matson

In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the completion of the transaction, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Joel M. Wine sold 8,941 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $128.80, for a total value of $1,151,600.80. Following the transaction, the chief financial officer now owns 151,329 shares of the company’s stock, valued at $19,491,175.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,376 shares of company stock worth $13,565,120. 2.32% of the stock is currently owned by insiders.

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.