Everence Capital Management Inc. Trims Position in Matson, Inc. (NYSE:MATX)

Everence Capital Management Inc. decreased its position in Matson, Inc. (NYSE:MATX) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,230 shares of the shipping company’s stock after selling 1,210 shares during the quarter. Everence Capital Management Inc.’s holdings in Matson were worth $705,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in shares of Matson by 4,167,726.1% in the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after buying an additional 958,577 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after acquiring an additional 134,092 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock valued at $46,680,000 after acquiring an additional 122,017 shares during the period. Forest Avenue Capital Management LP grew its position in shares of Matson by 50.2% during the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock valued at $30,445,000 after acquiring an additional 77,731 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Matson in the 3rd quarter worth $6,735,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at Matson

In other Matson 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 transaction 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 filing with the SEC, which is available through this link. Also, EVP Peter T. Heilmann sold 5,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total value of $877,393.44. Following the sale, the executive vice president now directly owns 32,952 shares in the company, valued at $5,350,086.72. This trade represents a 14.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,646 shares of company stock valued at $1,578,768. Corporate insiders own 2.32% of the company’s stock.

Matson Stock Up 1.7 %

MATX opened at $140.11 on Friday. Matson, Inc. has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. 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 stock has a market cap of $4.65 billion, a price-to-earnings ratio of 11.66 and a beta of 1.07. The firm’s fifty day moving average is $148.95 and its 200 day moving average is $137.88.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.40 earnings per share. On average, sell-side analysts forecast 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 was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. Matson’s dividend payout ratio is 11.31%.

Analyst Ratings Changes

MATX has been the topic of several analyst reports. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Matson in a research report on Thursday.

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.