Seven Post Investment Office LP Sells 816 Shares of Matson, Inc. (NYSE:MATX)

Seven Post Investment Office LP cut its holdings in shares of Matson, Inc. (NYSE:MATX) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,149 shares of the shipping company’s stock after selling 816 shares during the period. Matson makes up 2.1% of Seven Post Investment Office LP’s holdings, making the stock its 11th biggest holding. Seven Post Investment Office LP owned 0.28% of Matson worth $13,855,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MATX. Vanguard Group Inc. grew its holdings in shares of Matson by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after acquiring an additional 215,452 shares in the last quarter. American Century Companies Inc. grew its stake in Matson by 4.2% in the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock valued at $119,422,000 after purchasing an additional 36,901 shares during the period. Encompass Capital Advisors LLC grew its stake in 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 purchasing an additional 122,017 shares during the period. LSV Asset Management raised its stake in shares of Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after purchasing an additional 43,324 shares during the period. Finally, Millennium Management LLC boosted its holdings 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 buying an additional 134,092 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $133.62, for a total value of $215,796.30. Following the sale, the senior vice president now owns 7,973 shares of the company’s stock, valued at $1,065,352.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total value of $215,796.30. Following the completion of the sale, the senior vice president now owns 7,973 shares in the company, valued at approximately $1,065,352.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter T. Heilmann sold 5,404 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total value of $877,393.44. Following the transaction, the executive vice president now directly owns 32,952 shares in the company, valued at $5,350,086.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,864 shares of company stock worth $3,716,059 in the last three months. 2.32% of the stock is owned by insiders.

Matson Stock Performance

Shares of MATX opened at $161.25 on Friday. Matson, Inc. has a 12-month low of $89.08 and a 12-month high of $167.24. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.36 billion, a PE ratio of 13.42 and a beta of 1.06. The stock has a 50-day moving average price of $137.79 and a 200-day moving average price of $128.77.

Matson (NYSE:MATX) last issued its 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. 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 analyst estimates of $965.73 million. During the same quarter in the prior year, the firm earned $3.40 earnings per share. Matson’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts forecast that Matson, Inc. will post 12.11 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.84%. Matson’s dividend payout ratio is currently 11.31%.

Analyst Upgrades and Downgrades

MATX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens raised their price target on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

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.