1,477 Shares in Matson, Inc. (NYSE:MATX) Acquired by Hancock Whitney Corp

Hancock Whitney Corp purchased a new stake in Matson, Inc. (NYSE:MATX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,477 shares of the shipping company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Matson in the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC purchased a new position in shares of Matson during the second quarter worth about $34,000. International Assets Investment Management LLC acquired a new stake in shares of Matson during the second quarter worth about $39,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson in the 3rd quarter valued at about $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Matson in the 1st quarter valued at about $71,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 2.5 %

Matson stock opened at $153.11 on Thursday. The stock has a 50 day moving average of $145.45 and a two-hundred day moving average of $133.63. Matson, Inc. has a twelve month low of $93.75 and a twelve month high of $169.12. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

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

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.89%. Matson’s dividend payout ratio (DPR) is 11.31%.

Insider Buying and Selling

In related news, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the transaction, the senior vice president now owns 12,745 shares of the company’s stock, valued at $2,109,297.50. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew J. Cox sold 7,500 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,645 shares of company stock valued at $3,677,960 over the last ninety days. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MATX. 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. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Finally, StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

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.