Matson (NYSE:MATX) EVP Sells $1,023,103.59 in Stock

Matson, Inc. (NYSE:MATX) EVP Vic Angoco, Jr. sold 6,189 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.31, for a total transaction of $1,023,103.59. Following the completion of the transaction, the executive vice president directly owned 14,800 shares of the company’s stock, valued at $2,446,588. This represents a 29.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Matson Trading Down 3.7%

NYSE MATX opened at $152.94 on Friday. The firm’s 50 day moving average price is $152.49 and its two-hundred day moving average price is $122.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.89. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $177.51. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 10.97 and a beta of 1.32.

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

Matson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MATX shares. Wall Street Zen raised Matson from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Wolfe Research restated an “outperform” rating and set a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Finally, Stephens boosted their price objective on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Matson presently has an average rating of “Hold” and a consensus target price of $156.25.

Institutional Trading of Matson

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Matson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after purchasing an additional 21,516 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Matson by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after buying an additional 21,463 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Matson by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after buying an additional 35,229 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares in the last quarter. Finally, Millennium Management LLC raised its position in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after acquiring an additional 269,310 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.