Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff Sells 492 Shares

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

Matson Stock Performance

Shares of Matson stock traded up $6.80 during trading hours on Wednesday, reaching $166.03. The company’s stock had a trading volume of 555,142 shares, compared to its average volume of 276,089. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50 day simple moving average is $136.73 and its 200 day simple moving average is $128.27. Matson, Inc. has a one year low of $89.08 and a one year high of $166.05. The stock has a market cap of $5.51 billion, a P/E ratio of 13.25 and a beta of 1.06.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $3.40 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. As a group, analysts expect that Matson, Inc. will post 12.11 EPS for the current fiscal year.

Matson Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of Matson

A number of hedge funds have recently made changes to their positions in MATX. Natixis Advisors LLC lifted its stake in Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after acquiring an additional 78 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Matson by 6.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after buying an additional 107 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock valued at $1,255,000 after purchasing an additional 124 shares in the last quarter. AlphaMark Advisors LLC boosted 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 valued at $381,000 after buying an additional 131 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Matson by 0.9% in the 2nd quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company’s stock valued at $2,569,000 after purchasing an additional 172 shares in the last quarter. 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.