Matson, Inc. (NYSE:MATX) Shares Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. lifted its position in shares of Matson, Inc. (NYSE:MATX) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,656 shares of the shipping company’s stock after buying an additional 263 shares during the quarter. Maverick Capital Ltd.’s holdings in Matson were worth $1,092,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Matson in the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC bought a new position in Matson in the second quarter worth about $34,000. International Assets Investment Management LLC bought a new position in shares of Matson during the second quarter worth about $39,000. Harbor Capital Advisors Inc. bought a new stake in shares of Matson during the third quarter valued at approximately $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Matson during the first quarter valued at $71,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Matson Stock Performance

Shares of MATX opened at $153.18 on Friday. Matson, Inc. has a 12 month low of $93.94 and a 12 month high of $169.12. The company’s fifty day moving average is $146.14 and its 200-day moving average is $134.15. 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 firm has a market cap of $5.09 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06.

Matson (NYSE:MATX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million for 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%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business posted $3.40 EPS. Equities analysts expect that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.89%. Matson’s payout ratio is 11.31%.

Insider Transactions at Matson

In other news, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at $1,274,776.16. This represents a 9.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the sale, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,145 shares of company stock worth $2,649,185. Corporate insiders own 2.32% of the company’s stock.

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.