Matson (NYSE:MATX) SVP Kuuhaku Park Sells 1,000 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total value of $208,490.00. Following the completion of the sale, the senior vice president directly owned 9,984 shares in the company, valued at approximately $2,081,564.16. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Stock Performance

Matson stock opened at $214.41 on Thursday. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $6.41 billion, a P/E ratio of 14.33 and a beta of 1.27. The stock’s 50 day moving average is $203.06 and its 200 day moving average is $180.90.

Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The business had revenue of $969.40 million during the quarter, compared to analysts’ expectations of $893.91 million. During the same quarter in the previous year, the business earned $2.92 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, August 6th. This is a boost from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Matson’s dividend payout ratio is 10.16%.

Wall Street Analyst Weigh In

MATX has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Stephens increased their price target on shares of Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, Matson presently has an average rating of “Buy” and a consensus target price of $232.33.

Institutional Investors Weigh In On Matson

Institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Matson during the second quarter valued at $1,561,000. Elevation Point Wealth Partners LLC purchased a new position in Matson in the 2nd quarter worth about $282,000. Pinnbrook Capital Management LP purchased a new position in Matson in the 2nd quarter worth about $8,807,000. Evolve Private Wealth LLC bought a new position in Matson during the 2nd quarter valued at about $1,303,000. Finally, William Blair Investment Management LLC bought a new position in Matson during the 2nd quarter valued at about $25,390,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Company Profile

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.