Christopher Scott Sells 600 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Christopher Scott sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $219.90, for a total value of $131,940.00. Following the sale, the executive vice president owned 9,354 shares of the company’s stock, valued at approximately $2,056,944.60. This represents a 6.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Matson Price Performance

Shares of MATX opened at $223.14 on Friday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74. The business’s fifty day moving average is $206.47 and its 200 day moving average is $183.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.67 billion, a P/E ratio of 14.92 and a beta of 1.27.

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. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. Matson’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.92 EPS. Sell-side analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of Matson

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Matson by 3.4% in the second quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock worth $462,000 after purchasing an additional 80 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Matson by 57.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Matson by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock worth $5,021,000 after purchasing an additional 104 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Matson by 0.7% during the 1st 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 purchased a new position in shares of Matson in the 2nd quarter worth about $28,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.