Matson, Inc. (NYSE:MATX) SVP Sells $273,808.67 in Stock

Matson, Inc. (NYSE:MATX) SVP Richard S. Kinney sold 1,997 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Matson Price Performance

Shares of MATX opened at $133.02 on Friday. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The business has a 50-day simple moving average of $139.50 and a two-hundred day simple moving average of $141.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.37 billion, a PE ratio of 11.07 and a beta of 1.05.

Matson (NYSE:MATX) last issued its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.60. The business had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. 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 was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a $0.34 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.02%. Matson’s payout ratio is 9.69%.

Institutional Investors Weigh In On Matson

Several institutional investors and hedge funds have recently made changes to their positions in MATX. Bessemer Group Inc. increased its stake in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company’s stock valued at $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Matson in the fourth quarter valued at about $30,000. Ameriflex Group Inc. acquired a new stake in shares of Matson in the fourth quarter valued at about $36,000. IFP Advisors Inc acquired a new stake in shares of Matson in the fourth quarter valued at about $40,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Matson in the third quarter valued at about $50,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MATX. Stephens boosted their price target on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus upped their target price on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th.

Matson Company 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.