Matson, Inc. (NYSE:MATX) CEO Sells $399,100.00 in Stock

Matson, Inc. (NYSE:MATXGet Rating) CEO Matthew J. Cox sold 5,000 shares of the stock in a transaction dated 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 approximately $20,178,655.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Matson Stock Performance

NYSE:MATX opened at $82.99 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.43 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $80.14 and a two-hundred day moving average price of $91.37. Matson, Inc. has a twelve month low of $68.36 and a twelve month high of $125.34. The company has a market capitalization of $3.36 billion, a P/E ratio of 2.47 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 earnings per share for the quarter, beating the consensus estimate of $8.13 by $0.10. Matson had a net margin of 29.33% and a return on equity of 79.22%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $1.99 EPS. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis. As a group, research analysts expect that Matson, Inc. will post 29.88 earnings per share for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th will be issued a dividend of $0.31 per share. This is an increase from Matson’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, August 3rd. Matson’s dividend payout ratio (DPR) is 3.69%.

Hedge Funds Weigh In On Matson

Hedge funds have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Matson during the 1st quarter worth about $28,000. Financial Management Professionals Inc. boosted its stake in shares of Matson by 80.3% during the 1st quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock worth $42,000 after purchasing an additional 155 shares during the last quarter. Ellevest Inc. boosted its stake in shares of Matson by 43.8% during the 1st quarter. Ellevest Inc. now owns 358 shares of the shipping company’s stock worth $43,000 after purchasing an additional 109 shares during the last quarter. First Quadrant LLC CA acquired a new stake in shares of Matson during the 1st quarter worth about $48,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Matson by 111.3% during the 4th quarter. Catalyst Capital Advisors LLC now owns 410 shares of the shipping company’s stock worth $37,000 after purchasing an additional 216 shares during the last quarter. 85.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and cut their price target for the company from $131.00 to $93.00 in a report on Tuesday.

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.

Further Reading

Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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