Matson, Inc. (NYSE:MATX) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC decreased its holdings in Matson, Inc. (NYSE:MATX) by 54.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 538,603 shares of the shipping company’s stock after selling 632,450 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Matson were worth $76,816,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. TruNorth Capital Management LLC acquired a new position in Matson during the second quarter worth about $27,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matson during the second quarter worth $34,000. International Assets Investment Management LLC purchased a new stake in shares of Matson during the second quarter valued at $39,000. Harbor Capital Advisors Inc. acquired a new position in shares of Matson in the 3rd quarter valued at $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Matson during the 1st quarter worth about $71,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Matson

In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares in the company, valued at $1,274,776.16. This represents a 9.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Cox sold 6,499 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $143.82, for a total value of $934,686.18. Following the transaction, the chief executive officer now directly owns 208,898 shares of the company’s stock, valued at $30,043,710.36. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,145 shares of company stock worth $2,649,185 over the last 90 days. Insiders own 2.32% of the company’s stock.

Matson Price Performance

NYSE MATX opened at $153.18 on Monday. The stock has a market capitalization of $5.09 billion, a PE ratio of 12.74 and a beta of 1.06. The company has a 50 day moving average price of $146.14 and a two-hundred day moving average price of $134.29. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12-month low of $93.94 and a 12-month high of $169.12.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping 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 firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period in the prior year, the business posted $3.40 earnings per share. The business’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given 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 0.89%. Matson’s payout ratio is currently 11.31%.

Matson 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.