Matson, Inc. (NYSE:MATX) Stock Position Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Matson, Inc. (NYSE:MATX) by 16.5% during the third quarter, Holdings Channel.com reports. The firm owned 4,509 shares of the shipping company’s stock after buying an additional 639 shares during the quarter. Quantinno Capital Management LP’s holdings in Matson were worth $643,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concentric Capital Strategies LP bought a new stake in Matson during the third quarter worth approximately $1,151,000. Paloma Partners Management Co bought a new stake in shares of Matson in the 3rd quarter worth $328,000. Maverick Capital Ltd. lifted its holdings in shares of Matson by 3.6% in the third quarter. Maverick Capital Ltd. now owns 7,656 shares of the shipping company’s stock valued at $1,092,000 after buying an additional 263 shares during the period. Edgestream Partners L.P. boosted its stake in Matson by 22.2% during the third quarter. Edgestream Partners L.P. now owns 12,275 shares of the shipping company’s stock valued at $1,751,000 after buying an additional 2,231 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Matson during the third quarter worth about $6,735,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MATX. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the sale, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Cox sold 6,499 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares in the company, valued at approximately $30,043,710.36. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,145 shares of company stock valued at $2,513,455 over the last quarter. Company insiders own 2.32% of the company’s stock.

Matson Trading Up 0.2 %

Shares of MATX opened at $146.22 on Friday. The business’s 50-day moving average price is $147.86 and its 200 day moving average price is $136.33. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization 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, topping the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million for 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 quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $3.40 earnings per share. Analysts expect that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were issued a $0.34 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. Matson’s payout ratio is currently 11.31%.

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.