Matson (NYSE:MATX) EVP Peter Heilmann Sells 5,000 Shares of Stock

Matson, Inc. (NYSE:MATX) EVP Peter Heilmann sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the transaction, the executive vice president owned 20,506 shares in the company, valued at $4,514,395.90. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Matson Trading Down 0.7%

Matson stock opened at $216.79 on Friday. Matson, Inc. has a one year low of $86.97 and a one year high of $230.74. The company’s fifty day moving average price is $206.05 and its two-hundred day moving average price is $183.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 14.49 and a beta of 1.27.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The company had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same quarter in the prior year, the company posted $2.92 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. On average, analysts forecast that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, August 6th. This is a boost from Matson’s previous quarterly dividend of $0.36. Matson’s dividend payout ratio (DPR) is 10.16%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MATX shares. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Matson from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Stephens increased their price target on shares of Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Matson has a consensus rating of “Buy” and a consensus price target of $232.33.

Institutional Investors Weigh In On Matson

A number of institutional investors have recently added to or reduced their stakes in MATX. Allworth Financial LP bought a new position in shares of Matson during the 2nd quarter worth approximately $28,000. Danske Bank A S acquired a new position in Matson during the fourth quarter worth $25,000. Global Retirement Partners LLC acquired a new stake in shares of Matson in the 2nd quarter valued at $44,000. SouthState Bank Corp bought a new stake in shares of Matson in the 4th quarter worth about $31,000. Finally, Headlands Technologies LLC bought a new stake in shares of Matson in the 2nd quarter worth about $28,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.