1,748 Shares in Matson, Inc. (NYSE:MATX) Purchased by MML Investors Services LLC

MML Investors Services LLC bought a new stake in Matson, Inc. (NYSE:MATX) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,748 shares of the shipping company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new stake in shares of Matson in the 2nd quarter worth approximately $34,000. International Assets Investment Management LLC bought a new stake in shares of Matson in the second quarter valued at $39,000. Harbor Capital Advisors Inc. purchased a new position in shares of Matson during the 3rd quarter valued at $50,000. Daiwa Securities Group Inc. bought a new position in shares of Matson during the 2nd quarter worth $79,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Matson in the 3rd quarter worth about $92,000. 84.76% of the stock is owned by institutional investors.

Matson Stock Up 0.5 %

Shares of NYSE MATX opened at $139.28 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.63 billion, a P/E ratio of 11.59 and a beta of 1.04. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12. The business has a 50-day simple moving average of $148.50 and a two-hundred day simple moving average of $137.21.

Matson (NYSE:MATX) last released 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 company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. Matson’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business earned $3.40 earnings per share. Research analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.98%. Matson’s payout ratio is currently 11.31%.

Insider Buying and Selling

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction 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 owns 21,871 shares of the company’s stock, valued at $3,629,929.87. This represents a 12.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the sale, the senior vice president now directly owns 4,254 shares of the company’s stock, valued at $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,145 shares of company stock worth $2,513,455. Corporate insiders own 2.32% of the company’s stock.

Analysts Set New Price Targets

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

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.