Insider Selling: Matson Inc (MATX) President Sells 1,000 Shares of Stock

Matson Inc (NYSE:MATX) President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the transaction, the president now owns 59,884 shares in the company, valued at approximately $2,395,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MATX opened at $39.93 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.92 and a current ratio of 0.92. Matson Inc has a 1-year low of $27.73 and a 1-year high of $41.96. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 16.82 and a beta of 1.46.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Matson had a net margin of 11.74% and a return on equity of 14.31%. The firm had revenue of $589.40 million for the quarter, compared to the consensus estimate of $565.67 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Matson Inc will post 2.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 8th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. Matson’s payout ratio is 47.19%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Matson by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,204,197 shares of the shipping company’s stock worth $166,654,000 after acquiring an additional 63,276 shares in the last quarter. Morgan Stanley grew its stake in shares of Matson by 0.7% in the 3rd quarter. Morgan Stanley now owns 216,314 shares of the shipping company’s stock worth $8,576,000 after acquiring an additional 1,558 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Matson by 11.8% in the 3rd quarter. Legal & General Group Plc now owns 93,872 shares of the shipping company’s stock worth $3,699,000 after acquiring an additional 9,900 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Matson by 20.2% in the 3rd quarter. Teachers Advisors LLC now owns 96,717 shares of the shipping company’s stock worth $3,834,000 after acquiring an additional 16,285 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Matson in the 3rd quarter worth $872,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Several research analysts have weighed in on MATX shares. Wells Fargo & Co downgraded shares of Matson to a “hold” rating and set a $35.00 price objective on the stock. in a report on Friday, September 28th. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Zacks Investment Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 7th. Finally, Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a report on Tuesday, November 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Matson has an average rating of “Buy” and a consensus target price of $41.33.

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About Matson

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

Further Reading: Hedge Funds

Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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