Denali Advisors LLC Reduces Position in Matson, Inc. (NYSE:MATX)

Denali Advisors LLC decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 52.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,157 shares of the shipping company’s stock after selling 8,900 shares during the period. Denali Advisors LLC’s holdings in Matson were worth $1,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MATX. Jump Financial LLC purchased a new position in Matson during the fourth quarter worth $263,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Matson by 3.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,236 shares of the shipping company’s stock valued at $464,000 after purchasing an additional 160 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Matson in the fourth quarter valued at $1,411,000. Quadrant Capital Group LLC grew its position in shares of Matson by 21.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the shipping company’s stock valued at $213,000 after purchasing an additional 343 shares during the period. Finally, Norges Bank purchased a new stake in shares of Matson in the fourth quarter valued at $10,295,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MATX shares. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens lifted their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insider Buying and Selling at Matson

In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total transaction of $215,796.30. Following the completion of the sale, the senior vice president now owns 7,973 shares of the company’s stock, valued at $1,065,352.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total value of $215,796.30. Following the transaction, the senior vice president now owns 7,973 shares in the company, valued at approximately $1,065,352.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,376 shares of company stock valued at $13,565,120. Company insiders own 2.32% of the company’s stock.

Matson Price Performance

MATX stock opened at $131.39 on Tuesday. The stock has a 50-day moving average price of $130.61 and a two-hundred day moving average price of $120.63. Matson, Inc. has a 12-month low of $82.68 and a 12-month high of $138.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $4.59 billion, a PE ratio of 15.49 and a beta of 1.07.

Matson (NYSE:MATX) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The firm had revenue of $847.40 million during the quarter, compared to the consensus estimate of $861.68 million. As a group, research analysts predict that Matson, Inc. will post 11.45 EPS for the current year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, August 1st. This is an increase from Matson’s previous quarterly dividend of $0.32. Matson’s payout ratio is 16.04%.

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.