Matson, Inc. Declares Quarterly Dividend of $0.34 (NYSE:MATX)

Matson, Inc. (NYSE:MATX) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Thursday, February 6th will be given a dividend of 0.34 per share by the shipping company on Thursday, March 6th. This represents a $1.36 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, February 6th.

Matson has increased its dividend payment by an average of 7.6% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Matson has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Matson to earn $10.23 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 13.3%.

Matson Stock Down 3.9 %

MATX stock opened at $136.32 on Tuesday. The business’s 50-day moving average price is $142.47 and its 200-day moving average price is $139.69. The stock has a market cap of $4.53 billion, a P/E ratio of 11.34 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson has a twelve month low of $100.50 and a twelve month high of $169.12.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens reissued an “overweight” rating and set a $165.00 price target on shares of Matson in a report on Thursday, January 2nd.

Insider Activity at Matson

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total value of $79,339.92. Following the sale, the senior vice president now owns 4,254 shares of the company’s stock, valued at $686,000.04. The trade was a 10.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 5,404 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total value of $877,393.44. Following the completion of the sale, the executive vice president now directly owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,646 shares of company stock valued at $1,578,768. 2.32% of the stock is owned by company insiders.

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.