Matson, Inc. (NYSE:MATX) SVP Sells $124,125.00 in Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now directly owns 12,745 shares of the company’s stock, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Matson Stock Down 2.4 %

MATX stock opened at $160.65 on Friday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 13.37 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $141.52 and a 200-day moving average price of $131.10. Matson, Inc. has a 12 month low of $91.98 and a 12 month high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.40 EPS. As a group, equities research analysts anticipate that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.85%. Matson’s dividend payout ratio is currently 11.31%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Matson

Institutional investors and hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC grew its holdings in shares of Matson by 0.5% during the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares during the last quarter. Caprock Group LLC boosted its position in Matson by 4.2% during the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after buying an additional 91 shares during the period. First Trust Direct Indexing L.P. grew its holdings in Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock worth $237,000 after acquiring an additional 107 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Matson by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock valued at $1,255,000 after acquiring an additional 124 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in shares of Matson by 4.7% during the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock valued at $381,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.