Tidal Investments LLC Sells 1,177 Shares of Matson, Inc. (NYSE:MATX)

Tidal Investments LLC lowered its holdings in shares of Matson, Inc. (NYSE:MATX) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,228 shares of the shipping company’s stock after selling 1,177 shares during the quarter. Tidal Investments LLC’s holdings in Matson were worth $4,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MATX. Pacer Advisors Inc. lifted its holdings in Matson by 4,167,726.1% in the 3rd quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after purchasing an additional 958,577 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Matson by 126.5% in the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after buying an additional 134,092 shares during the last quarter. Encompass Capital Advisors LLC lifted its stake in shares of Matson by 52.1% in the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after buying an additional 122,017 shares during the last quarter. Forest Avenue Capital Management LP boosted its holdings in shares of Matson by 50.2% during the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock worth $30,445,000 after buying an additional 77,731 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Matson in the 3rd quarter valued at $6,735,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Trading Up 0.2 %

Shares of MATX stock opened at $146.22 on Friday. The firm has a market capitalization of $4.86 billion, a P/E ratio of 12.16 and a beta of 1.04. Matson, Inc. has a 1 year low of $98.80 and a 1 year high of $169.12. The firm’s fifty day simple moving average is $147.86 and its 200 day simple moving average is $136.33. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last posted its quarterly earnings data 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 the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.40 EPS. As a group, sell-side analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.93%. Matson’s dividend payout ratio (DPR) is 11.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Insiders Place Their Bets

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the sale, the senior vice president now directly owns 4,254 shares in the company, valued at $686,000.04. The trade was a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,145 shares of company stock worth $2,513,455. 2.32% of the stock is currently owned by company insiders.

About Matson

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.