Matson, Inc. (NYSE:MATX) Sees Significant Drop in Short Interest

Matson, Inc. (NYSE:MATX) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 938,200 shares, a decline of 15.5% from the December 31st total of 1,110,000 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 250,600 shares, the short-interest ratio is presently 3.7 days.

Matson Stock Performance

Shares of NYSE:MATX traded down $5.53 during midday trading on Monday, reaching $136.32. 287,880 shares of the company’s stock traded hands, compared to its average volume of 227,632. Matson has a one year low of $100.50 and a one year high of $169.12. The stock has a 50 day moving average of $142.47 and a 200 day moving average of $139.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 11.34 and a beta of 1.05.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, February 6th. Matson’s dividend payout ratio is 11.31%.

Analysts Set New Price Targets

Several equities research analysts have commented on MATX shares. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Stephens reaffirmed an “overweight” rating and set a $165.00 price target on shares of Matson in a report on Thursday, January 2nd.

Insider Activity

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the sale, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,646 shares of company stock valued at $1,578,768. Company insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after acquiring an additional 78 shares during the period. Nisa Investment Advisors LLC increased its position in Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock worth $2,244,000 after buying an additional 80 shares in the last quarter. Inspire Investing LLC grew its position in shares of Matson by 2.9% during the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock worth $401,000 after purchasing an additional 85 shares in the last quarter. Caprock Group LLC grew its position in shares of Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of Matson by 6.9% during the third 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 in the last quarter. Institutional investors own 84.76% of the company’s stock.

About Matson

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.