Matson, Inc. (NYSE:MATX) CFO Joel M. Wine Sells 12,821 Shares

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 12,821 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the completion of the transaction, the chief financial officer now owns 126,418 shares of the company’s stock, valued at $15,579,754.32. The sale was disclosed in a filing with the SEC, which is available at this link.

Matson Stock Up 0.6 %

NYSE MATX traded up $0.74 during trading hours on Wednesday, reaching $122.63. 308,069 shares of the company’s stock traded hands, compared to its average volume of 264,356. Matson, Inc. has a 52-week low of $77.09 and a 52-week high of $133.53. The firm has a market cap of $4.28 billion, a PE ratio of 14.46 and a beta of 1.09. The firm has a 50-day simple moving average of $121.50 and a 200 day simple moving average of $115.10. 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 (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (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 company had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $730.44 million. During the same period last year, the company posted $0.94 EPS. Matson’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Matson, Inc. will post 10.1 EPS for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders 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. This represents a $1.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 1st. Matson’s dividend payout ratio (DPR) is currently 15.09%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $135.00 price objective on shares of Matson in a report on Friday, May 24th. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus increased their price target on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

Institutional Trading of Matson

Institutional investors and hedge funds have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Matson during the 4th quarter valued at about $26,000. USA Financial Formulas bought a new stake in Matson during the 4th quarter valued at about $26,000. Security National Bank bought a new stake in Matson during the 4th quarter valued at about $36,000. Blue Trust Inc. increased its stake in Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Evermay Wealth Management LLC bought a new stake in Matson during the 4th quarter valued at about $66,000. 84.76% of the stock is currently owned by institutional investors.

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.