Insider Selling: Matson (NYSE:MATX) SVP Sells $169,340.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $169.34, for a total transaction of $169,340.00. Following the completion of the sale, the senior vice president directly owned 18,996 shares of the company’s stock, valued at $3,216,782.64. This represents a 5.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Price Performance

Matson stock opened at $152.94 on Friday. The stock’s fifty day moving average price is $152.49 and its two-hundred day moving average price is $122.11. Matson, Inc. has a one year low of $86.97 and a one year high of $177.51. 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 cap of $4.66 billion, a PE ratio of 10.97 and a beta of 1.32.

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

Matson Announces Dividend

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

Institutional Investors Weigh In On Matson

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after purchasing an additional 94 shares in the last quarter. Hantz Financial Services Inc. raised its position in Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 102 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Matson by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after purchasing an additional 109 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Matson by 3.3% during the third quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock worth $354,000 after purchasing an additional 116 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Matson by 19.1% during the second quarter. Parkside Financial Bank & Trust now owns 749 shares of the shipping company’s stock worth $83,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

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

Matson Company Profile

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.