Matson (NYSE:MATX) SVP Laura Rascon Sells 540 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 540 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $180.83, for a total transaction of $97,648.20. Following the completion of the transaction, the senior vice president directly owned 18,456 shares in the company, valued at approximately $3,337,398.48. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Matson Price Performance

NYSE:MATX opened at $179.56 on Friday. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $189.99. The stock has a fifty day moving average of $167.87 and a 200 day moving average of $144.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.19 and a beta of 1.30.

Matson (NYSE:MATX) last announced its earnings results 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. The business had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. On average, research analysts expect that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Wall Street Analyst Weigh In

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

Institutional Trading of Matson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its stake in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares during the period. Danske Bank A S bought a new position in Matson in the 4th quarter worth $25,000. Headlands Technologies LLC bought a new position in Matson in the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Matson in the 3rd quarter worth about $30,000. Finally, SouthState Bank Corp purchased a new stake in shares of Matson in the 4th quarter worth about $31,000. Institutional investors own 84.76% of the company’s stock.

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.