Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan Sells 750 Shares

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total transaction of $124,125.00. Following the transaction, the senior vice president now owns 12,745 shares in the company, valued at approximately $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Matson Trading Down 0.9 %

Shares of MATX stock traded down $1.51 on Friday, reaching $163.04. The company had a trading volume of 29,573 shares, compared to its average volume of 274,572. The stock has a market cap of $5.41 billion, a PE ratio of 13.69 and a beta of 1.06. The company has a 50-day moving average of $140.15 and a 200-day moving average of $130.51. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12 month low of $91.98 and a 12 month high of $169.12.

Matson (NYSE:MATX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. During the same period last year, the firm posted $3.40 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities analysts forecast that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.83%. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently modified their holdings of the business. TruNorth Capital Management LLC acquired a new position in Matson in the 2nd quarter worth $27,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matson during the 2nd quarter worth about $34,000. International Assets Investment Management LLC acquired a new position in Matson in the 2nd quarter valued at about $39,000. Harbor Capital Advisors Inc. acquired a new position in shares of Matson in the third quarter valued at approximately $50,000. Finally, Blue Trust Inc. increased its position in Matson by 226.9% during the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of a number of recent research reports. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

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.