Matson, Inc. (NYSE:MATX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,468 shares of the shipping company’s stock after selling 190 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Matson were worth $1,778,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in Matson in the second quarter valued at $34,000. International Assets Investment Management LLC purchased a new position in Matson in the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. acquired a new stake in Matson in the third quarter valued at approximately $50,000. Blue Trust Inc. grew its position in Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 413 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Matson during the second quarter valued at approximately $79,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Matson

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the sale, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Cox sold 6,499 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares of the company’s stock, valued at $30,043,710.36. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,145 shares of company stock worth $2,513,455 over the last ninety days. 2.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Matson Trading Down 0.4 %

Shares of NYSE:MATX opened at $145.63 on Tuesday. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. 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 company has a market cap of $4.84 billion, a PE ratio of 12.12 and a beta of 1.04. The company’s 50-day moving average price is $147.86 and its 200 day moving average price is $136.44.

Matson (NYSE:MATX) last issued 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. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same period in the previous year, the firm posted $3.40 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. Sell-side analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, November 7th. Matson’s dividend payout ratio is currently 11.31%.

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.