Matson (NYSE:MATX) SVP Sells $399,675.33 in Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 1,917 shares of Matson stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $399,675.33. Following the completion of the sale, the senior vice president owned 7,630 shares of the company’s stock, valued at approximately $1,590,778.70. This trade represents a 20.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Matson Trading Up 1.9%

NYSE MATX opened at $217.75 on Friday. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $230.74. 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 $6.51 billion, a price-to-earnings ratio of 14.56 and a beta of 1.27. The company’s fifty day moving average price is $204.18 and its two-hundred day moving average price is $181.55.

Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.48. The company had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. As a group, research analysts predict that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

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

Hedge Funds Weigh In On Matson

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

Analysts Set New Price Targets

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

Matson Company Profile

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.