Raymond James & Associates Sells 151 Shares of Matson, Inc. (NYSE:MATX)

Raymond James & Associates trimmed its holdings in shares of Matson, Inc. (NYSE:MATX) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,017 shares of the shipping company’s stock after selling 151 shares during the quarter. Raymond James & Associates’ holdings in Matson were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Matson by 105.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock worth $3,316,000 after acquiring an additional 19,149 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of Matson by 317.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock worth $2,197,000 after purchasing an additional 18,830 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Matson by 25.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock worth $5,381,000 after purchasing an additional 12,285 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Matson by 178.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company’s stock valued at $826,000 after purchasing an additional 5,973 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Matson by 12.6% during the third quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock valued at $25,313,000 after purchasing an additional 31,833 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 1,171 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares in the company, valued at $1,397,261.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.32% of the stock is owned by company insiders.

Matson Stock Performance

MATX opened at $106.04 on Thursday. The firm has a market cap of $3.66 billion, a P/E ratio of 12.65 and a beta of 1.12. Matson, Inc. has a 1-year low of $61.51 and a 1-year high of $122.99. The company has a 50 day simple moving average of $111.31 and a two-hundred day simple moving average of $104.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 1.07.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $788.90 million during the quarter, compared to analyst estimates of $733.60 million. Matson had a net margin of 9.60% and a return on equity of 12.71%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share. Equities analysts forecast that Matson, Inc. will post 8.2 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 8th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.21%. Matson’s dividend payout ratio is 15.27%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MATX. Stifel Nicolaus raised their price objective on Matson from $108.00 to $109.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th.

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.