Insider Selling: Matson, Inc. (NYSE:MATX) EVP Sells 5,000 Shares of Stock

Matson, Inc. (NYSE:MATXGet Rating) EVP Rusty K. Rolfe sold 5,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $70.10, for a total transaction of $350,500.00. Following the transaction, the executive vice president now owns 20,499 shares of the company’s stock, valued at $1,436,979.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Price Performance

Shares of NYSE MATX opened at $69.39 on Friday. The firm has a 50-day simple moving average of $79.74 and a 200-day simple moving average of $87.69. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 2.06 and a beta of 1.25. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.24. Matson, Inc. has a 52 week low of $66.75 and a 52 week high of $125.34.

Matson (NYSE:MATXGet Rating) last issued its earnings results on Monday, August 1st. The shipping company reported $9.49 EPS for the quarter, beating analysts’ consensus estimates of $9.38 by $0.11. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Matson had a net margin of 29.33% and a return on equity of 79.22%. On average, equities analysts predict that Matson, Inc. will post 30.75 earnings per share for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 4th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Matson’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 3rd. Matson’s dividend payout ratio is 3.69%.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently modified their holdings of the company. Hussman Strategic Advisors Inc. purchased a new stake in shares of Matson in the second quarter valued at about $1,895,000. Amundi grew its holdings in shares of Matson by 194.2% in the second quarter. Amundi now owns 10,910 shares of the shipping company’s stock valued at $804,000 after purchasing an additional 7,202 shares during the period. Verition Fund Management LLC grew its holdings in shares of Matson by 553.7% in the second quarter. Verition Fund Management LLC now owns 15,603 shares of the shipping company’s stock valued at $1,137,000 after purchasing an additional 13,216 shares during the period. Captrust Financial Advisors grew its holdings in shares of Matson by 5.1% in the second quarter. Captrust Financial Advisors now owns 4,671 shares of the shipping company’s stock valued at $340,000 after purchasing an additional 225 shares during the period. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Matson by 191.3% in the second quarter. ExodusPoint Capital Management LP now owns 23,386 shares of the shipping company’s stock valued at $1,704,000 after purchasing an additional 15,357 shares during the period. Hedge funds and other institutional investors own 83.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MATX shares. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $93.00 in a research report on Tuesday, August 2nd. Wolfe Research started coverage on shares of Matson in a research report on Tuesday, August 16th. They set an “underperform” rating and a $80.00 price objective for the company. Finally, StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 2nd.

About Matson

(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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