Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe Sells 3,000 Shares

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the sale, the executive vice president now directly owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Matson Trading Down 0.6 %

NYSE:MATX traded down $0.93 during midday trading on Friday, reaching $163.62. 18,554 shares of the stock traded hands, compared to its average volume of 274,523. The company has a fifty day moving average of $140.15 and a 200 day moving average of $130.51. Matson, Inc. has a 12 month low of $91.98 and a 12 month high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $5.43 billion, a P/E ratio of 13.69 and a beta of 1.06.

Matson (NYSE:MATX) last released its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period in the prior year, the firm earned $3.40 EPS. The company’s revenue was up 16.3% compared to the same quarter last year. On average, research analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s payout ratio is 11.31%.

Analysts Set New Price Targets

Several brokerages recently commented on MATX. Stephens boosted their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Hedge Funds Weigh In On Matson

Large investors have recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of Matson during the second quarter valued at approximately $27,000. Redwood Wealth Management Group LLC bought a new position in Matson during the second quarter valued at $34,000. International Assets Investment Management LLC bought a new position in Matson during the second quarter valued at $39,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson during the third quarter valued at $50,000. Finally, Blue Trust Inc. boosted its stake in shares of Matson by 226.9% during the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 413 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Company Profile

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.