Matson (NYSE:MATX) SVP Sells 1,500 Shares

Matson, Inc. (NYSE:MATX) SVP Leonard Isotoff sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $165.32, for a total value of $247,980.00. Following the completion of the transaction, the senior vice president directly owned 7,777 shares in the company, valued at $1,285,693.64. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matson Trading Down 0.8%

NYSE MATX traded down $1.29 during trading hours on Wednesday, hitting $167.24. 250,014 shares of the company’s stock were exchanged, compared to its average volume of 305,667. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 12.00 and a beta of 1.32. The stock has a 50-day simple moving average of $150.39 and a 200 day simple moving average of $121.20. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. 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 data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating the consensus estimate 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 net margin of 13.30% and a return on equity of 16.63%. Matson’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.80 EPS. On average, equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s dividend payout ratio (DPR) is currently 10.33%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wolfe Research reiterated an “outperform” rating and issued a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Stephens boosted their price target on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.25.

Institutional Trading of Matson

Institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Danske Bank A S bought a new position in shares of Matson during the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its stake in shares of Matson by 67.1% in 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 during the last quarter. Headlands Technologies LLC bought a new position in shares of Matson in the second quarter valued at approximately $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Matson in the third quarter valued at 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.