Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe Sells 3,000 Shares

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the transaction, the executive vice president now owns 21,871 shares in the company, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Matson Stock Performance

MATX opened at $160.65 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.34 billion, a PE ratio of 13.37 and a beta of 1.06. The business has a fifty day simple moving average of $141.52 and a 200-day simple moving average of $131.10. Matson, Inc. has a fifty-two week low of $91.98 and a fifty-two week high of $169.12.

Matson (NYSE:MATX) last issued 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 return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter last year, the business posted $3.40 EPS. Matson’s revenue was up 16.3% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.85%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Hedge Funds Weigh In On Matson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. Nomura Asset Management Co. Ltd. acquired a new stake in Matson during the 3rd quarter worth about $5,746,000. Y Intercept Hong Kong Ltd lifted its position in shares of Matson by 205.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 5,355 shares of the shipping company’s stock worth $764,000 after purchasing an additional 3,600 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Matson during the third quarter worth approximately $249,000. Hodges Capital Management Inc. purchased a new position in Matson during the third quarter valued at approximately $1,426,000. Finally, Zacks Investment Management increased its stake in Matson by 10.3% in the 3rd quarter. Zacks Investment Management now owns 15,864 shares of the shipping company’s stock valued at $2,263,000 after buying an additional 1,481 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on MATX shares. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens lifted their price objective 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.

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.