Insider Selling: Matson (NYSE:MATX) SVP Sells $450,475.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the transaction, the senior vice president owned 10,984 shares of the company’s stock, valued at $1,979,206.96. This represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Matson Stock Down 1.5%

NYSE MATX opened at $179.56 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $5.43 billion, a P/E ratio of 13.19 and a beta of 1.30. Matson, Inc. has a one year low of $86.97 and a one year high of $189.99. The stock has a 50 day moving average price of $167.87 and a 200-day moving average price of $144.98.

Matson (NYSE:MATX) last posted its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. As a group, equities analysts predict that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.36 per share. 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 is currently 10.58%.

Analyst Ratings Changes

MATX has been the subject of a number of research reports. Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Stephens increased their target price on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. initiated coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Matson has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Institutional Trading of Matson

A number of hedge funds and other institutional investors have recently bought and sold shares of MATX. Royal Bank of Canada increased its stake in Matson by 8.3% in the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after purchasing an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after purchasing an additional 863 shares during the period. Millennium Management LLC increased its stake in Matson by 7.1% in the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after purchasing an additional 6,778 shares during the period. NewEdge Advisors LLC purchased a new stake in Matson in the first quarter worth $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after buying an additional 2,492 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About Matson

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.