Matson, Inc. (NYSE:MATX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of Matson, Inc. (NYSE:MATX) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 10,797 shares of the shipping company’s stock after selling 362 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Matson were worth $1,540,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MATX. Vanguard Group Inc. grew its stake in Matson by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after purchasing an additional 215,452 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Matson by 3,509.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock worth $21,233,000 after buying an additional 183,676 shares during the last quarter. Millennium Management LLC grew its position in shares of Matson by 126.5% in the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after acquiring an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Matson by 52.1% in the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock valued at $46,680,000 after acquiring an additional 122,017 shares during the last quarter. Finally, Forest Avenue Capital Management LP raised its position 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 valued at $30,445,000 after acquiring an additional 77,731 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Matson

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Lauer sold 3,354 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $132.48, for a total transaction of $444,337.92. Following the completion of the sale, the executive vice president now directly owns 27,098 shares of the company’s stock, valued at approximately $3,589,943.04. This represents a 11.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,614 shares of company stock worth $4,338,094 in the last three months. 2.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on MATX shares. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens raised their target price on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd.

Matson Price Performance

Shares of MATX opened at $164.55 on Friday. Matson, Inc. has a 12 month low of $91.98 and a 12 month high of $169.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $140.15 and a 200 day moving average price of $130.51. The company has a market cap of $5.46 billion, a P/E ratio of 13.69 and a beta of 1.06.

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

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is 11.31%.

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.