Insider Selling: Matson, Inc. (NYSE:MATX) SVP Sells 750 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 750 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Matson Price Performance

Shares of NYSE MATX opened at $160.65 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 13.37 and a beta of 1.06. Matson, Inc. has a twelve month low of $91.98 and a twelve month high of $169.12. The business has a 50 day simple moving average of $140.82 and a 200-day simple moving average of $130.75.

Matson (NYSE:MATX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating 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 company had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. During the same period in the previous year, the firm posted $3.40 earnings per share. Matson’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts expect that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The firm 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is 11.31%.

Hedge Funds Weigh In On Matson

Several large investors have recently bought and sold shares of MATX. Natixis Advisors LLC boosted its stake in Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after purchasing an additional 78 shares in the last quarter. Caprock Group LLC boosted its stake in Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after buying an additional 91 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Matson by 6.9% during the third 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 grew 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 worth $1,255,000 after acquiring an additional 124 shares during the period. Finally, AlphaMark Advisors LLC raised its position in Matson by 4.7% in the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

MATX has been the topic of several recent research reports. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens upped their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

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.