Thrivent Financial for Lutherans Trims Stock Position in Matson, Inc. (NYSE:MATX)

Thrivent Financial for Lutherans decreased its holdings in Matson, Inc. (NYSE:MATX) by 43.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,369 shares of the shipping company’s stock after selling 19,961 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Matson were worth $3,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after acquiring an additional 78 shares during the period. First Trust Direct Indexing L.P. raised its holdings 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 worth $237,000 after purchasing an additional 107 shares during the period. SummerHaven Investment Management LLC lifted its position in Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock valued at $1,255,000 after purchasing an additional 124 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Matson by 4.7% during the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock valued at $381,000 after purchasing an additional 131 shares during the period. Finally, National Bank of Canada FI increased its position in Matson by 0.9% in the second quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company’s stock worth $2,569,000 after buying an additional 172 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MATX has been the subject of a number of recent research reports. Stephens boosted their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Finally, Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Matson Price Performance

Shares of Matson stock opened at $153.95 on Monday. 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 52 week low of $93.75 and a 52 week high of $169.12. The stock’s 50-day simple moving average is $144.02 and its 200-day simple moving average is $132.76. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 12.81 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 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 prior year, the company posted $3.40 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, analysts expect that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.88%. Matson’s payout ratio is 11.31%.

Insider Buying and Selling at Matson

In related news, SVP John Warren Sullivan sold 750 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 12,745 shares of the company’s stock, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of Matson 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 transaction, the senior vice president now owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. This represents a 9.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,645 shares of company stock worth $3,677,960. 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.