2,694 Shares in Matson, Inc. (NYSE:MATX) Purchased by Cynosure Group LLC

Cynosure Group LLC bought a new stake in Matson, Inc. (NYSE:MATX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,694 shares of the shipping company’s stock, valued at approximately $384,000.

Several other institutional investors have also made changes to their positions in the stock. Natixis Advisors LLC lifted its position in shares of Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares during the last quarter. Caprock Group LLC raised its position in Matson by 4.2% in the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Matson by 6.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after buying an additional 107 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Matson by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after purchasing an additional 124 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its position in Matson by 4.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after acquiring an additional 131 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Trading Down 2.5 %

Shares of NYSE:MATX opened at $153.11 on Thursday. The company’s fifty day simple moving average is $145.45 and its 200 day simple moving average is $133.63. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12 month low of $93.75 and a 12 month high of $169.12.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. During the same quarter last year, the firm earned $3.40 EPS. Matson’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, research analysts forecast that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Insider Buying and Selling

In other Matson news, SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares of the company’s stock, valued at $2,109,297.50. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,645 shares of company stock worth $3,677,960. Company insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Finally, Stephens raised their target price on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

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.