Matson (NYSE:MATX) SVP Sells $595,362.70 in Stock

by · The Cerbat Gem

Matson, Inc. (NYSE:MATX – Get Free Report) SVP Christopher Scott sold 3,305 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $595,362.70. Following the completion of the sale, the senior vice president directly owned 11,228 shares of the company’s stock, valued at $2,022,611.92. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Matson Stock Performance

Shares of Matson stock traded down $0.89 during trading hours on Monday, hitting $181.83. 154,939 shares of the company were exchanged, compared to its average volume of 247,333. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $189.99. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 13.36 and a beta of 1.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $166.89 and a 200-day moving average of $142.89.

Matson (NYSE:MATX – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. During the same quarter in the prior year, the company posted $2.18 earnings per share. Matson’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, analysts expect that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MATX shares. Zacks Research upgraded Matson to a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Stephens boosted their target price on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. began 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. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.25.

Check Out Our Latest Research Report on MATX

Institutional Trading of Matson

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Matson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock worth $453,616,000 after acquiring an additional 21,516 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 during the period. American Century Companies Inc. lifted its position in shares of Matson by 2.9% during the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock worth $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Matson by 27.9% in 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 during the period. Finally, Millennium Management LLC boosted its stake in shares of Matson by 144.9% in 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 during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About Matson

(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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