Denali Advisors LLC Sells 11,066 Shares of Matson, Inc. (NYSE:MATX)

Denali Advisors LLC lowered its stake in shares of Matson, Inc. (NYSE:MATX) by 39.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,057 shares of the shipping company’s stock after selling 11,066 shares during the period. Denali Advisors LLC’s holdings in Matson were worth $1,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MATX. Dimensional Fund Advisors LP lifted its stake in shares of Matson by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock worth $291,386,000 after purchasing an additional 43,846 shares during the period. American Century Companies Inc. raised its stake in Matson by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock worth $57,989,000 after acquiring an additional 65,736 shares during the period. London Co. of Virginia raised its stake in Matson by 1.5% during the 3rd quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock worth $26,966,000 after acquiring an additional 4,455 shares during the period. First Trust Advisors LP raised its stake in Matson by 25.5% during the 4th quarter. First Trust Advisors LP now owns 293,163 shares of the shipping company’s stock worth $32,131,000 after acquiring an additional 59,652 shares during the period. Finally, LSV Asset Management raised its stake in Matson by 450.4% during the 4th quarter. LSV Asset Management now owns 239,439 shares of the shipping company’s stock worth $26,243,000 after acquiring an additional 195,939 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Stephens reiterated an “overweight” rating and set a $135.00 price objective on shares of Matson in a research report on Friday, May 24th.

Matson Price Performance

MATX traded up $1.39 during trading hours on Wednesday, hitting $130.64. The company’s stock had a trading volume of 111,131 shares, compared to its average volume of 263,121. The business’s 50-day moving average price is $119.33 and its 200-day moving average price is $114.39. Matson, Inc. has a 12 month low of $74.04 and a 12 month high of $133.53. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 15.41 and a beta of 1.09. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. Matson’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts expect that Matson, Inc. will post 10.1 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.04%. This is a positive change from Matson’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, August 1st. Matson’s payout ratio is presently 15.09%.

Insiders Place Their Bets

In other news, SVP John Warren Sullivan sold 893 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total transaction of $98,765.80. Following the completion of the sale, the senior vice president now directly owns 13,495 shares of the company’s stock, valued at $1,492,547. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Leonard P. Isotoff sold 2,800 shares of Matson stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the sale, the senior vice president now directly owns 4,746 shares in the company, valued at $533,830.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Warren Sullivan sold 893 shares of Matson stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the sale, the senior vice president now owns 13,495 shares of the company’s stock, valued at $1,492,547. The disclosure for this sale can be found here. Insiders sold 34,359 shares of company stock valued at $4,363,849 over the last three months. 2.32% of the stock is owned by company insiders.

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.