Matson (NYSE:MATX) SVP Sells 2,000 Shares

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $169.79, for a total transaction of $339,580.00. Following the sale, the senior vice president owned 13,484 shares of the company’s stock, valued at $2,289,448.36. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matson Trading Down 0.8%

Shares of MATX traded down $1.29 during mid-day trading on Wednesday, hitting $167.24. 250,014 shares of the company’s stock traded hands, compared to its average volume of 305,667. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $150.39 and its 200-day moving average price is $121.20. The firm has a market capitalization of $5.09 billion, a P/E ratio of 12.00 and a beta of 1.32. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $177.51.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. Matson had a net margin of 13.30% and a return on equity of 16.63%. The company had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. During the same period in the prior year, the firm earned $3.80 earnings per share. Matson’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a yield of 0.9%. Matson’s payout ratio is presently 10.33%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Stephens boosted their price target on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Wolfe Research restated an “outperform” rating and issued a $167.00 price objective on shares of Matson in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Matson currently has an average rating of “Hold” and an average price target of $156.25.

Hedge Funds Weigh In On Matson

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. increased its position in Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Matson in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its position in shares of Matson by 67.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after buying an additional 102 shares in the last quarter. Headlands Technologies LLC purchased a new position in Matson during the 2nd quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Matson in the third quarter worth approximately $30,000. 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.