Insider Selling: Matson, Inc. (NYSE:MATX) SVP Sells 750 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at $2,109,297.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Matson Stock Down 1.1 %

Shares of MATX stock traded down $1.78 during trading hours on Thursday, hitting $165.59. 54,204 shares of the company were exchanged, compared to its average volume of 274,797. The company has a market capitalization of $5.50 billion, a PE ratio of 13.92 and a beta of 1.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 52 week low of $91.98 and a 52 week high of $169.12. The business has a 50 day moving average of $140.15 and a two-hundred day moving average of $130.51.

Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. The company had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.40 earnings per share. Analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Institutional Investors Weigh In On Matson

A number of institutional investors and hedge funds have recently modified their holdings of MATX. Hyperion Capital Advisors LP bought a new stake in shares of Matson during the third quarter worth approximately $262,000. CreativeOne Wealth LLC boosted its stake in shares of Matson by 41.5% in the third quarter. CreativeOne Wealth LLC now owns 2,378 shares of the shipping company’s stock valued at $339,000 after buying an additional 697 shares during the period. Cynosure Group LLC bought a new stake in shares of Matson during the 3rd quarter valued at $384,000. BNP Paribas Financial Markets increased its holdings in Matson by 7.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock valued at $1,437,000 after buying an additional 703 shares during the period. Finally, Hancock Whitney Corp acquired a new position in Matson during the third quarter valued at approximately $211,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

MATX has been the subject of a number of research analyst reports. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens boosted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.