Christopher Scott Sells 2,509 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Christopher Scott sold 2,509 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $155.00, for a total transaction of $388,895.00. Following the completion of the transaction, the senior vice president owned 14,533 shares of the company’s stock, valued at $2,252,615. This represents a 14.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Matson Stock Performance

Shares of MATX stock opened at $149.75 on Friday. The stock’s 50-day moving average is $155.35 and its two-hundred day moving average is $123.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $177.51. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 10.74 and a beta of 1.32.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.91. The business 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 business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.80 EPS. Analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.0%. Matson’s payout ratio is currently 10.33%.

Institutional Investors Weigh In On Matson

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted 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 worth $25,000 after purchasing an additional 138 shares during the period. Danske Bank A S acquired a new position in Matson in the 4th quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Matson during the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new position in Matson during the 3rd quarter worth $30,000. Finally, SouthState Bank Corp acquired a new stake in shares of Matson in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Wolfe Research reiterated an “outperform” rating and set a $167.00 price target on shares of Matson in a research note on Thursday, January 8th. Wall Street Zen raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Stephens lifted their price objective on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.25.

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.