Matson Inc. (MATX) Director Michael J. Chun Sells 1,000 Shares
Matson Inc. (NYSE:MATX) Director Michael J. Chun sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $38.66, for a total transaction of $38,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Matson Inc. (NYSE:MATX) traded down 2.08% during trading on Tuesday, hitting $38.18. 171,645 shares of the stock traded hands. The company has a market cap of $1.64 billion, a P/E ratio of 19.08 and a beta of 1.18. The stock has a 50-day moving average of $39.15 and a 200 day moving average of $36.64. Matson Inc. has a 1-year low of $28.79 and a 1-year high of $52.58.
Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.12. Matson had a return on equity of 20.49% and a net margin of 4.57%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $481.78 million. During the same quarter last year, the business earned $0.94 EPS. Matson’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts predict that Matson Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, November 8th. Matson’s dividend payout ratio (DPR) is 38.00%.
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Large investors have recently bought and sold shares of the company. State Street Corp boosted its stake in Matson by 2.7% in the first quarter. State Street Corp now owns 970,099 shares of the company’s stock valued at $38,961,000 after buying an additional 25,707 shares during the period. Geode Capital Management LLC boosted its stake in Matson by 4.4% in the first quarter. Geode Capital Management LLC now owns 383,981 shares of the company’s stock valued at $15,424,000 after buying an additional 16,212 shares during the period. Barclays PLC acquired a new stake in Matson during the first quarter valued at about $983,000. Panagora Asset Management Inc. boosted its stake in Matson by 45.7% in the first quarter. Panagora Asset Management Inc. now owns 163,496 shares of the company’s stock valued at $6,567,000 after buying an additional 51,276 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Matson by 16.4% in the first quarter. Squarepoint Ops LLC now owns 16,332 shares of the company’s stock valued at $656,000 after buying an additional 2,300 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
A number of research firms have issued reports on MATX. Zacks Investment Research downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and cut their price objective for the company from $46.00 to $38.00 in a report on Tuesday, November 8th.
Matson Inc is a transportation company in the Marine industry.
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