Matson, Inc. (NYSE:MATX) Short Interest Down 21.5% in November

Matson, Inc. (NYSE:MATXGet Free Report) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 723,200 shares, a drop of 21.5% from the October 31st total of 921,800 shares. Based on an average daily volume of 292,300 shares, the short-interest ratio is currently 2.5 days. Approximately 2.2% of the shares of the company are short sold.

Matson Trading Up 0.1 %

MATX traded up $0.10 on Friday, reaching $153.18. 124,024 shares of the company traded hands, compared to its average volume of 271,519. The firm has a fifty day simple moving average of $146.14 and a two-hundred day simple moving average of $134.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson has a one year low of $93.94 and a one year high of $169.12. The company has a market cap of $5.09 billion, a P/E ratio of 12.74 and a beta of 1.06.

Matson (NYSE:MATXGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same quarter in the previous year, the business posted $3.40 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts expect that Matson will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.89%. Matson’s dividend payout ratio is presently 11.31%.

Insider Transactions at Matson

In related news, SVP Leonard P. Isotoff sold 492 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the transaction, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rusty K. Rolfe sold 3,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,145 shares of company stock worth $2,649,185 over the last quarter. Corporate insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC lifted its position in Matson by 43.5% during the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock valued at $2,051,000 after acquiring an additional 4,361 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Matson by 31.5% in the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock worth $9,832,000 after purchasing an additional 17,992 shares in the last quarter. Edgestream Partners L.P. grew its stake in Matson by 98.1% during the 2nd quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock worth $1,315,000 after buying an additional 4,973 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Matson by 93.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,234 shares of the shipping company’s stock valued at $1,471,000 after buying an additional 5,439 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Matson in the second quarter valued at about $559,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on MATX shares. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

View Our Latest Report on Matson

Matson Company Profile

(Get Free Report)

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.

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