Mutual of America Capital Management LLC Sells 565 Shares of Matson, Inc. (NYSE:MATX)

Mutual of America Capital Management LLC lessened its holdings in Matson, Inc. (NYSE:MATX) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,051 shares of the shipping company’s stock after selling 565 shares during the period. Mutual of America Capital Management LLC’s holdings in Matson were worth $720,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC lifted its position in shares of Matson by 0.5% in the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares during the period. Aigen Investment Management LP raised its stake in Matson by 15.7% during the third quarter. Aigen Investment Management LP now owns 6,342 shares of the shipping company’s stock worth $904,000 after buying an additional 860 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Matson by 16.3% in the third quarter. Crossmark Global Holdings Inc. now owns 2,787 shares of the shipping company’s stock valued at $397,000 after buying an additional 391 shares during the period. Assetmark Inc. boosted its position in Matson by 13.1% during the third quarter. Assetmark Inc. now owns 47,868 shares of the shipping company’s stock valued at $6,827,000 after acquiring an additional 5,536 shares during the last quarter. Finally, Summit Global Investments grew its holdings in Matson by 78.0% during the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock worth $1,487,000 after acquiring an additional 4,567 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Price Performance

NYSE MATX opened at $157.10 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.22 billion, a PE ratio of 13.07 and a beta of 1.06. Matson, Inc. has a 52 week low of $93.75 and a 52 week high of $169.12. The firm’s 50-day simple moving average is $144.52 and its two-hundred day simple moving average is $133.20.

Matson (NYSE:MATX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.40 earnings per share. Research analysts predict that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio is currently 11.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MATX. Stephens lifted their price objective on shares of 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 note on Monday, November 18th. Finally, StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Insider Buying and Selling at Matson

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 7,500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at $29,546,006.49. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,645 shares of company stock worth $3,677,960 over the last ninety days. Insiders own 2.32% of the company’s stock.

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.