Insider Selling: Matson (NYSE:MATX) SVP Sells 3,331 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 3,331 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total value of $600,046.34. Following the completion of the sale, the senior vice president directly owned 9,547 shares of the company’s stock, valued at $1,719,796.58. The trade was a 25.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Matson Stock Down 0.5%

Shares of Matson stock traded down $0.89 during trading on Monday, reaching $181.83. The company’s stock had a trading volume of 154,939 shares, compared to its average volume of 290,114. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 13.36 and a beta of 1.30. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $189.99. The company has a 50-day simple moving average of $166.38 and a two-hundred day simple moving average of $141.66.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter last year, the firm earned $2.18 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson’s payout ratio is currently 10.58%.

Analyst Ratings Changes

A number of brokerages have commented on MATX. JPMorgan Chase & Co. began coverage on Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Stephens lifted their price target on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Finally, Zacks Research raised Matson to a “hold” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Matson has a consensus rating of “Moderate Buy” and an average price target of $181.25.

Hedge Funds Weigh In On Matson

Institutional investors and hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC acquired a new position in shares of Matson in the 3rd quarter valued at about $740,000. American Century Companies Inc. raised its holdings in Matson by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock worth $123,300,000 after purchasing an additional 35,229 shares during the period. Tudor Investment Corp ET AL raised its holdings in Matson by 2,944.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 57,850 shares of the shipping company’s stock worth $5,703,000 after purchasing an additional 55,950 shares during the period. Citigroup Inc. raised its holdings in Matson by 49.3% in the 3rd quarter. Citigroup Inc. now owns 50,580 shares of the shipping company’s stock worth $4,987,000 after purchasing an additional 16,712 shares during the period. Finally, Assetmark Inc. raised its holdings in Matson by 24.2% in the 3rd quarter. Assetmark Inc. now owns 67,332 shares of the shipping company’s stock worth $6,638,000 after purchasing an additional 13,104 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.