Matson (NYSE:MATX) Director Sells $289,868.90 in Stock

Matson, Inc. (NYSE:MATX) Director Bradley Tilden sold 1,594 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $181.85, for a total transaction of $289,868.90. Following the sale, the director directly owned 7,555 shares in the company, valued at $1,373,876.75. The trade was a 17.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Matson Stock Down 0.5%

NYSE:MATX traded down $0.89 during mid-day trading on Monday, hitting $181.83. 154,939 shares of the company’s stock were exchanged, compared to its average volume of 290,114. Matson, Inc. has a one year low of $86.97 and a one year high of $189.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $166.38 and a 200 day moving average price of $141.66. The company has a market cap of $5.50 billion, a PE ratio of 13.36 and a beta of 1.30.

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

Matson Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after buying an additional 94 shares during the last quarter. Bessemer Group Inc. raised its holdings in Matson by 0.3% in the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock worth $5,021,000 after buying an additional 104 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Matson by 0.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock worth $3,639,000 after buying an additional 109 shares during the last quarter. Verdence Capital Advisors LLC raised 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 valued at $354,000 after purchasing an additional 116 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.