SG Americas Securities LLC Has $1.75 Million Holdings in Matson Inc (MATX)

SG Americas Securities LLC reduced its position in Matson Inc (NYSE:MATX) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,160 shares of the shipping company’s stock after selling 12,905 shares during the period. SG Americas Securities LLC owned approximately 0.10% of Matson worth $1,751,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MATX. CIBC Asset Management Inc bought a new position in shares of Matson during the second quarter worth about $209,000. UBS Group AG lifted its position in shares of Matson by 1,157.3% during the first quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock worth $225,000 after purchasing an additional 7,256 shares during the last quarter. United Services Automobile Association bought a new position in shares of Matson during the second quarter worth about $243,000. Amalgamated Bank bought a new position in shares of Matson during the second quarter worth about $251,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Matson during the second quarter worth about $267,000. 84.32% of the stock is owned by institutional investors.

In other news, Director Mark H. Fukunaga purchased 4,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were bought at an average price of $36.24 per share, for a total transaction of $144,960.00. Following the completion of the purchase, the director now owns 10,432 shares of the company’s stock, valued at $378,055.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Ronald J. Forest sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the president now owns 60,884 shares in the company, valued at approximately $2,130,940. The disclosure for this sale can be found here. Insiders sold 3,000 shares of company stock worth $111,810 in the last three months. 2.48% of the stock is currently owned by corporate insiders.

MATX has been the topic of several research analyst reports. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Saturday, November 10th. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co cut shares of Matson to a “hold” rating and set a $35.00 target price on the stock. in a report on Friday, September 28th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Matson currently has an average rating of “Buy” and a consensus price target of $41.33.

Shares of NYSE MATX opened at $39.35 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16. Matson Inc has a 52-week low of $27.73 and a 52-week high of $41.96. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 22.11 and a beta of 1.46.

Matson (NYSE:MATX) last issued its earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.06. Matson had a net margin of 11.74% and a return on equity of 14.31%. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $565.67 million. During the same quarter last year, the company posted $0.79 earnings per share. Matson’s revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that Matson Inc will post 2.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.13%. Matson’s dividend payout ratio is currently 47.19%.

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Matson Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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