Insider Selling: Matson, Inc. (NYSE:MATX) CFO Sells 8,000 Shares of Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 8,000 shares of Matson stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $131.83, for a total transaction of $1,054,640.00. Following the transaction, the chief financial officer now directly owns 98,974 shares in the company, valued at $13,047,742.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matson Stock Up 0.1 %

NYSE MATX traded up $0.10 on Tuesday, hitting $132.19. The stock had a trading volume of 227,265 shares, compared to its average volume of 267,584. The business’s fifty day moving average price is $125.40 and its 200 day moving average price is $116.67. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 15.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. Matson, Inc. has a 52-week low of $82.68 and a 52-week high of $135.17.

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

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.34 per share. This is a positive change from Matson’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. Matson’s payout ratio is presently 15.09%.

Hedge Funds Weigh In On Matson

Several hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC grew its position in Matson by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after purchasing an additional 108 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of Matson by 5.8% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock valued at $229,000 after buying an additional 114 shares during the last quarter. U S Global Investors Inc. increased its position in shares of Matson by 13.4% in the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 118 shares during the period. AlphaMark Advisors LLC raised its stake in Matson by 4.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after acquiring an additional 131 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC lifted its position in Matson by 6.4% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MATX. Stephens reiterated an “overweight” rating and issued a $135.00 price target on shares of Matson in a report on Friday, May 24th. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st.

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.