Matson (NYSE:MATX) SVP Grace Cerocke Sells 1,200 Shares

by · The Cerbat Gem

Matson, Inc. (NYSE:MATX – Get Free Report) SVP Grace Cerocke sold 1,200 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the transaction, the senior vice president directly owned 17,986 shares in the company, valued at $3,301,690.02. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Matson Price Performance

Shares of MATX stock traded up $0.77 during mid-day trading on Friday, hitting $181.42. The company had a trading volume of 187,678 shares, compared to its average volume of 279,715. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $190.00. The stock’s 50 day moving average price is $173.21 and its 200-day moving average price is $150.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $5.49 billion, a P/E ratio of 13.33 and a beta of 1.30.

Matson (NYSE:MATX – Get Free Report) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s payout ratio is 10.58%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Matson has a consensus rating of “Moderate Buy” and an average price target of $181.25.

View Our Latest Stock Analysis on Matson

Institutional Investors Weigh In On Matson

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Matson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after purchasing an additional 21,516 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Matson by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after purchasing an additional 21,463 shares in the last quarter. American Century Companies Inc. raised its stake in Matson by 2.9% during the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after purchasing an additional 269,310 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Company Profile

(Get Free Report)

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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