Insider Selling: Matson (NYSE:MATX) EVP Sells $1,100,750.00 in Stock

Matson, Inc. (NYSE:MATX) EVP Peter Heilmann sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the transaction, the executive vice president owned 20,506 shares of the company’s stock, valued at approximately $4,514,395.90. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Matson Stock Performance

Shares of MATX opened at $223.14 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50 day moving average is $206.47 and its 200-day moving average is $183.63. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74. The stock has a market capitalization of $6.67 billion, a P/E ratio of 14.92 and a beta of 1.27.

Matson (NYSE:MATX) last released its earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.79 by $0.48. The business had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.92 earnings per share. Equities research analysts anticipate that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MATX shares. Stephens raised their price objective on Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Zacks Research raised Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $232.33.

Hedge Funds Weigh In On Matson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. BlackRock Inc. acquired a new stake in Matson during the 2nd quarter valued at $952,903,000. Millennium Management LLC boosted its position in shares of Matson by 144.9% in the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after buying an additional 269,310 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Matson during the third quarter valued at $26,415,000. Bank of New York Mellon Corp purchased a new position in shares of Matson during the second quarter valued at $50,637,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Matson during the second quarter valued at $45,796,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.