Raymond James & Associates Has $1.76 Million Stake in Matson, Inc. (NYSE:MATX)

Raymond James & Associates trimmed its position in shares of Matson, Inc. (NYSE:MATX) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its stake in Matson by 105.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock valued at $3,316,000 after acquiring an additional 19,149 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Matson by 317.4% during the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock valued at $2,197,000 after acquiring an additional 18,830 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Matson by 25.4% during 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 raised its stake in shares of Matson by 178.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,311 shares of the shipping company’s stock worth $826,000 after purchasing an additional 5,973 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Matson by 12.6% during the 3rd quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock worth $25,313,000 after purchasing an additional 31,833 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction dated Wednesday, March 13th. The stock was 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 of the company’s stock, valued at approximately $1,397,261.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.32% of the company’s stock.

Matson Trading Down 2.1 %

Shares of MATX opened at $106.04 on Thursday. The business has a 50-day moving average of $111.31 and a 200 day moving average of $104.48. Matson, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $122.99. The firm has a market cap of $3.66 billion, a P/E ratio of 12.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07.

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

Matson Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their target price 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 Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th.

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.