Matson (NYSE:MATX) VP Sells $421,709.92 in Stock
by Michael Walen · The Markets DailyMatson, Inc. (NYSE:MATX – Get Free Report) VP Kevin Stuck sold 2,524 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $167.08, for a total value of $421,709.92. Following the transaction, the vice president directly owned 2,331 shares of the company’s stock, valued at approximately $389,463.48. This represents a 51.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Matson Stock Performance
Shares of MATX stock traded down $1.29 during midday trading on Wednesday, hitting $167.24. The company had a trading volume of 250,014 shares, compared to its average volume of 305,667. The company’s 50 day simple moving average is $150.39 and its 200 day simple moving average is $121.20. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $177.51. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 12.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.83.
Matson (NYSE:MATX – Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.91. The firm had revenue of $851.90 million for the quarter, compared to analysts’ expectations of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.80 EPS. Research analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.
Matson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s dividend payout ratio (DPR) is 10.33%.
Institutional Trading of Matson
Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in shares of Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Danske Bank A S bought a new stake in Matson during the fourth quarter worth about $25,000. Hantz Financial Services Inc. increased its position in shares of Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Matson in the 2nd quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Matson in the third quarter worth about $30,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MATX shares. Stephens upped their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Wolfe Research restated an “outperform” rating and set a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $156.25.
Read Our Latest Stock Analysis on Matson
Matson Company Profile
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.
Featured Articles
- Five stocks we like better than Matson
- CSE: ALEN.U is targeting a fast-growing digital wellness market
- New Copper-Rich “Kraken” Zone Discovered
- 1,500 Banks Just Handed the Fed Your Bank Account
- Your name isn’t on our protected list yet
- Silver paying 20% dividend. Plus 68% share gains