Seamount Financial Group Inc. Sells 280 Shares of Matson, Inc. (NYSE:MATX)

Seamount Financial Group Inc. reduced its stake in Matson, Inc. (NYSE:MATX) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,016 shares of the shipping company’s stock after selling 280 shares during the period. Seamount Financial Group Inc.’s holdings in Matson were worth $811,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Matson during the second quarter worth approximately $759,000. GAMMA Investing LLC boosted its holdings in shares of Matson by 45.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 343 shares in the last quarter. CWM LLC increased its stake in shares of Matson by 80.4% in the third quarter. CWM LLC now owns 1,198 shares of the shipping company’s stock valued at $171,000 after buying an additional 534 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Matson by 3.4% during the third quarter. Ritholtz Wealth Management now owns 13,741 shares of the shipping company’s stock worth $1,960,000 after purchasing an additional 452 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Matson by 6.5% in the third quarter. Inspire Investing LLC now owns 2,887 shares of the shipping company’s stock worth $412,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the 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 sale, the executive vice president now directly owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares of the company’s stock, valued at $2,109,297.50. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Matson Trading Down 0.0 %

Matson stock opened at $136.14 on Friday. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $140.95 and its two-hundred day simple moving average is $139.74. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.33 and a beta of 1.05.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Matson 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.