Matson (NYSE:MATX) Shares Gap Down to $91.26

Shares of Matson, Inc. (NYSE:MATXGet Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $91.26, but opened at $85.08. Matson shares last traded at $80.19, with a volume of 3,090 shares.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $93.00 in a research note on Tuesday. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Matson Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50 day simple moving average is $80.42 and its 200 day simple moving average is $91.42. The firm has a market capitalization of $3.34 billion, a P/E ratio of 2.45 and a beta of 1.20.

Matson (NYSE:MATXGet Rating) last posted its earnings results on Tuesday, May 3rd. The shipping company reported $8.23 EPS for the quarter, beating analysts’ consensus estimates of $8.13 by $0.10. Matson had a net margin of 29.33% and a return on equity of 85.17%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. Matson’s revenue for the quarter was up 63.7% compared to the same quarter last year. As a group, analysts expect that Matson, Inc. will post 29.83 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 4th will be given a dividend of $0.31 per share. This is a boost from Matson’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.51%. Matson’s dividend payout ratio is presently 3.57%.

Insiders Place Their Bets

In related news, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $79.82, for a total transaction of $399,100.00. Following the completion of the transaction, the chief executive officer now owns 252,802 shares of the company’s stock, valued at $20,178,655.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Richard S. Kinney sold 470 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $72.51, for a total transaction of $34,079.70. Following the transaction, the senior vice president now directly owns 8,975 shares in the company, valued at $650,777.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Cox sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $79.82, for a total transaction of $399,100.00. Following the transaction, the chief executive officer now owns 252,802 shares in the company, valued at $20,178,655.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,983 shares of company stock valued at $1,872,821. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of institutional investors and hedge funds have recently made changes to their positions in MATX. Edmond DE Rothschild Holding S.A. acquired a new position in Matson during the 1st quarter worth approximately $28,000. First Horizon Advisors Inc. boosted its holdings in shares of Matson by 1,573.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 435 shares of the shipping company’s stock valued at $31,000 after buying an additional 409 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Matson in the 2nd quarter valued at $36,000. Catalyst Capital Advisors LLC raised its position in Matson by 111.3% in the 4th quarter. Catalyst Capital Advisors LLC now owns 410 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 216 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its position in Matson by 80.3% in the 1st quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 155 shares during the last quarter. 85.85% of the stock is owned by hedge funds and other institutional investors.

Matson Company Profile

(Get Rating)

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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