Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan Sells 893 Shares

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 893 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total value of $98,765.80. Following the sale, the senior vice president now owns 13,495 shares of the company’s stock, valued at $1,492,547. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Matson Trading Up 2.1 %

Shares of Matson stock traded up $2.39 on Thursday, hitting $114.22. The stock had a trading volume of 304,264 shares, compared to its average volume of 264,773. The stock has a 50 day moving average of $108.76 and a 200 day moving average of $106.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson, Inc. has a twelve month low of $64.21 and a twelve month high of $122.99. The firm has a market capitalization of $3.90 billion, a P/E ratio of 13.47 and a beta of 1.12.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $722.10 million during the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. Sell-side analysts expect that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.12%. Matson’s payout ratio is 15.09%.

Hedge Funds Weigh In On Matson

A number of hedge funds and other institutional investors have recently made changes to their positions in MATX. Cambridge Investment Research Advisors Inc. boosted its stake in Matson by 32.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,911 shares of the shipping company’s stock worth $524,000 after acquiring an additional 1,463 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Matson by 6.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after acquiring an additional 213 shares during the period. TD Asset Management Inc increased its holdings in shares of Matson by 11.9% during the third quarter. TD Asset Management Inc now owns 22,600 shares of the shipping company’s stock valued at $2,005,000 after acquiring an additional 2,400 shares in the last quarter. Skylands Capital LLC acquired a new position in shares of Matson during the third quarter worth approximately $244,000. Finally, Assetmark Inc. lifted its holdings in shares of Matson by 4.2% in the 3rd quarter. Assetmark Inc. now owns 36,736 shares of the shipping company’s stock worth $3,259,000 after purchasing an additional 1,467 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MATX shares. Stifel Nicolaus increased their target price on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Matson from a “buy” rating to a “hold” rating in a research report on Thursday.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.