Matson (NYSE:MATX) SVP Sells $247,980.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Leonard Isotoff sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $165.32, for a total value of $247,980.00. Following the completion of the transaction, the senior vice president owned 7,777 shares of the company’s stock, valued at $1,285,693.64. This trade represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Stock Performance

Shares of NYSE MATX traded down $1.29 during mid-day trading on Wednesday, reaching $167.24. 250,014 shares of the company’s stock were exchanged, compared to its average volume of 305,667. The firm has a 50-day moving average price of $150.39 and a two-hundred day moving average price of $121.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 12.00 and a beta of 1.32. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $177.51.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. The business had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.80 earnings per share. Analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 5th. Matson’s payout ratio is 10.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MATX. Millennium Management LLC increased its position in shares of Matson by 144.9% in the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after acquiring an additional 269,310 shares during the period. Balyasny Asset Management L.P. bought a new position in Matson in the third quarter worth $26,415,000. Norges Bank bought a new stake in shares of Matson in the 4th quarter worth approximately $17,276,000. Ameriprise Financial Inc. boosted its stake in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Matson during the 3rd quarter valued at $9,503,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MATX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Wolfe Research reiterated an “outperform” rating and set a $167.00 price objective on shares of Matson in a research note on Thursday, January 8th. Finally, Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $156.25.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.