Vic Angoco, Jr. Sells 2,293 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Vic Angoco, Jr. sold 2,293 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $222.76, for a total value of $510,788.68. Following the transaction, the executive vice president owned 12,507 shares of the company’s stock, valued at approximately $2,786,059.32. This trade represents a 15.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Matson Stock Down 0.1%

Shares of NYSE:MATX opened at $222.50 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $207.56 and a 200 day simple moving average of $184.59. The firm has a market cap of $6.65 billion, a PE ratio of 14.87 and a beta of 1.27. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74.

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

Matson Increases Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of Matson

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Matson by 3.4% during the second quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock worth $462,000 after acquiring an additional 80 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Matson by 0.3% in the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after acquiring an additional 104 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Matson by 0.7% in the first quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock worth $2,418,000 after purchasing an additional 107 shares during the period. Finally, Allworth Financial LP acquired a new stake in Matson in the second quarter worth about $28,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.