Matson (NYSE:MATX) SVP Richard Kinney Sells 5,225 Shares

Matson, Inc. (NYSE:MATX) SVP Richard Kinney sold 5,225 shares of Matson stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $165.32, for a total transaction of $863,797.00. Following the completion of the sale, the senior vice president owned 6,746 shares of the company’s stock, valued at $1,115,248.72. This trade represents a 43.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matson Stock Down 0.8%

MATX stock traded down $1.29 during trading hours on Wednesday, hitting $167.24. The company’s stock had a trading volume of 250,014 shares, compared to its average volume of 305,667. The stock has a 50 day moving average price of $150.39 and a two-hundred day moving average price of $121.20. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $177.51. The company has a market capitalization of $5.09 billion, a PE ratio of 12.00 and a beta of 1.32. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.91. The business 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.80 EPS. On average, equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

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

Institutional Trading of Matson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Matson during the fourth quarter worth approximately $25,000. Federated Hermes Inc. grew its stake in shares of Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares during the last quarter. SouthState Bank Corp bought a new position in Matson during the fourth quarter worth $31,000. Headlands Technologies LLC acquired a new position in Matson during the 2nd quarter valued at $28,000. Finally, Hantz Financial Services Inc. boosted its holdings in Matson by 67.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Stephens lifted their price target 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. 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Matson has an average rating of “Hold” and an average target price of $156.25.

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.