Matthew J. Cox Sells 6,499 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 6,499 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares of the company’s stock, valued at $30,043,710.36. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Matson Trading Down 1.2 %

Shares of MATX opened at $140.97 on Wednesday. The company has a market capitalization of $4.92 billion, a P/E ratio of 16.62 and a beta of 1.07. Matson, Inc. has a one year low of $82.68 and a one year high of $144.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50-day moving average price of $132.87 and a 200 day moving average price of $122.82.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The firm had revenue of $847.40 million during the quarter, compared to the consensus estimate of $861.68 million. Sell-side analysts forecast that Matson, Inc. will post 11.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MATX. Vanguard Group Inc. lifted its holdings in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after buying an additional 215,452 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Matson by 3,509.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock worth $21,233,000 after buying an additional 183,676 shares during the last quarter. Millennium Management LLC lifted its holdings in Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after buying an additional 134,092 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after buying an additional 122,017 shares during the last quarter. Finally, Norges Bank bought a new position in Matson during the 4th quarter worth approximately $10,295,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MATX shares. Stephens lifted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

About Matson

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.