Barclays PLC Sells 166,307 Shares of Matson, Inc. (NYSE:MATX)

Barclays PLC decreased its position in Matson, Inc. (NYSE:MATX) by 61.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,360 shares of the shipping company’s stock after selling 166,307 shares during the quarter. Barclays PLC’s holdings in Matson were worth $15,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in shares of Matson during the second quarter valued at about $34,000. International Assets Investment Management LLC bought a new position in Matson during the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. purchased a new position in Matson in the 3rd quarter worth approximately $50,000. Blue Trust Inc. lifted 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 purchasing an additional 413 shares during 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. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Shares of MATX stock opened at $146.22 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $169.12. The firm has a market cap of $4.86 billion, a P/E ratio of 12.16 and a beta of 1.04. The business’s 50 day moving average price is $147.86 and its 200-day moving average price is $136.44.

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

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend 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%.

Insider Buying and Selling

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 directly owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,145 shares of company stock valued at $2,513,455 over the last three months. Corporate insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the topic of several analyst reports. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

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.