Insider Selling: Matson (NYSE:MATX) SVP Sells 2,500 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 2,500 shares of Matson stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total transaction of $450,475.00. Following the sale, the senior vice president owned 10,984 shares of the company’s stock, valued at approximately $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Matson Stock Performance

NYSE MATX traded down $0.64 on Thursday, reaching $181.08. 54,798 shares of the company’s stock traded hands, compared to its average volume of 285,414. The stock has a 50 day moving average price of $167.35 and a 200-day moving average price of $144.11. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 13.30 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $189.99.

Matson (NYSE:MATX) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Equities research analysts predict that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s payout ratio is presently 10.58%.

Hedge Funds Weigh In On Matson

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Matson by 8.3% in the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after purchasing an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Matson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after purchasing an additional 863 shares during the last quarter. Millennium Management LLC grew its stake in shares of Matson by 7.1% during the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after purchasing an additional 6,778 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Matson in the 1st quarter valued at about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Matson by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after purchasing an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stephens lifted their target price on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. began coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

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.