Insider Selling: Matson, Inc. (NYSE:MATX) SVP Sells $79,339.92 in Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 492 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total transaction of $79,339.92. Following the transaction, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matson Stock Performance

NYSE:MATX opened at $165.64 on Friday. The company’s 50-day moving average price is $138.34 and its 200-day moving average price is $129.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.50 billion, a P/E ratio of 13.78 and a beta of 1.06. Matson, Inc. has a twelve month low of $89.57 and a twelve month high of $167.94.

Matson (NYSE:MATX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period last year, the firm posted $3.40 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, sell-side analysts forecast that Matson, Inc. will post 12.11 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stephens raised their price target on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Hedge Funds Weigh In On Matson

Institutional investors have recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in Matson during the second quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new position in Matson during the second quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in Matson during the second quarter worth about $39,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Matson in the 3rd quarter valued at approximately $50,000. Finally, Blue Trust Inc. raised its stake in shares of Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 413 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

About Matson

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.