Matson (NYSE:MATX) SVP Laura Rascon Sells 2,800 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the completion of the sale, the senior vice president directly owned 15,656 shares of the company’s stock, valued at approximately $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matson Stock Performance

MATX opened at $194.60 on Wednesday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $197.63. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 14.30 and a beta of 1.29. The business has a 50 day moving average of $177.77 and a 200-day moving average of $155.03. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. On average, equities research analysts expect that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 7th. Matson’s dividend payout ratio (DPR) is presently 10.58%.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently added to or reduced their stakes in MATX. Federated Hermes Inc. increased its stake in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares during the period. Danske Bank A S bought a new position in Matson during the 4th quarter worth $25,000. Headlands Technologies LLC bought a new position in Matson during the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC bought a new position in Matson during the 3rd quarter worth $30,000. Finally, SouthState Bank Corp bought a new position in Matson during the 4th quarter worth $31,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Zacks Research raised Matson to a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. assumed coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Finally, Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

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.