SG Americas Securities LLC Sells 2,256 Shares of Matson, Inc. (NYSE:MATX)

SG Americas Securities LLC reduced its position in Matson, Inc. (NYSE:MATX) by 52.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,016 shares of the shipping company’s stock after selling 2,256 shares during the period. SG Americas Securities LLC’s holdings in Matson were worth $288,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in shares of Matson in the 2nd quarter worth $27,000. Redwood Wealth Management Group LLC bought a new position in shares of Matson in the 2nd quarter worth $34,000. International Assets Investment Management LLC purchased a new stake in Matson in the 2nd quarter valued at $39,000. DekaBank Deutsche Girozentrale purchased a new stake in Matson in the 1st quarter valued at $71,000. Finally, Blue Trust Inc. raised its position in Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after buying an additional 413 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Joel M. Wine sold 11,444 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $128.65, for a total transaction of $1,472,270.60. Following the completion of the sale, the chief financial officer now directly owns 114,974 shares of the company’s stock, valued at $14,791,405.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Joel M. Wine sold 11,444 shares of Matson stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $128.65, for a total value of $1,472,270.60. Following the completion of the sale, the chief financial officer now owns 114,974 shares of the company’s stock, valued at approximately $14,791,405.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of Matson stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,180 shares of company stock valued at $9,175,884 in the last ninety days. 2.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Matson Trading Down 0.2 %

Shares of Matson stock opened at $136.27 on Monday. Matson, Inc. has a 1 year low of $82.68 and a 1 year high of $144.93. The firm has a market cap of $4.76 billion, a PE ratio of 16.07 and a beta of 1.07. The stock has a fifty day moving average price of $134.77 and a 200-day moving average price of $125.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Matson (NYSE:MATX) last announced its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $861.68 million. Equities research analysts anticipate that Matson, Inc. will post 11.45 EPS for the current year.

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.