Joel M. Wine Sells 8,941 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 8,941 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $128.80, for a total value of $1,151,600.80. Following the completion of the sale, the chief financial officer now directly owns 151,329 shares in the company, valued at approximately $19,491,175.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matson Stock Up 1.4 %

Matson stock traded up $1.78 during mid-day trading on Friday, hitting $130.73. The company had a trading volume of 156,389 shares, compared to its average volume of 262,887. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 15.35 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Matson, Inc. has a 1 year low of $74.04 and a 1 year high of $133.53. The business has a fifty day moving average of $117.98 and a 200 day moving average of $113.56.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Matson had a net margin of 9.61% and a return on equity of 12.66%. The firm had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. During the same period last year, the firm posted $0.94 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Matson, Inc. will post 10.1 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be issued a $0.34 dividend. This is an increase from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 1st. Matson’s payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MATX. Stephens restated an “overweight” rating and set a $135.00 target price on shares of Matson in a report on Friday, May 24th. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st.

Institutional Trading of Matson

A number of large investors have recently made changes to their positions in MATX. McGlone Suttner Wealth Management Inc. purchased a new stake in Matson in the fourth quarter valued at approximately $26,000. USA Financial Formulas acquired a new position in Matson in the fourth quarter valued at $26,000. Security National Bank purchased a new stake in shares of Matson in the fourth quarter valued at about $36,000. Blue Trust Inc. boosted its stake in shares of Matson by 109.6% during the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after buying an additional 217 shares during the period. Finally, Evermay Wealth Management LLC purchased a new position in shares of Matson during the fourth quarter worth about $66,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Company Profile

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.