Matthew J. Cox Sells 2,174 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATXGet Rating) CEO Matthew J. Cox sold 2,174 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $89.23, for a total transaction of $193,986.02. Following the sale, the chief executive officer now owns 272,802 shares in the company, valued at $24,342,122.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of MATX traded down $0.58 during mid-day trading on Thursday, hitting $84.60. The company’s stock had a trading volume of 427,553 shares, compared to its average volume of 511,683. The firm has a 50-day moving average price of $98.97 and a 200 day moving average price of $93.57. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.43. Matson, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $125.34.

Matson (NYSE:MATXGet Rating) last released its earnings results on Tuesday, May 3rd. The shipping company reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.13 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Matson had a net margin of 26.93% and a return on equity of 77.39%. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year. During the same period last year, the firm posted $1.99 earnings per share. As a group, equities analysts anticipate that Matson, Inc. will post 26.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Thursday, May 12th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, May 11th. Matson’s dividend payout ratio (DPR) is currently 4.31%.

MATX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Matson from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Saturday, May 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Matson from $98.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, March 14th.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Matson by 3.2% in the first quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock worth $802,830,000 after acquiring an additional 204,399 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Matson by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock worth $561,594,000 after purchasing an additional 153,723 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Matson by 0.6% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,348,688 shares of the shipping company’s stock worth $350,983,000 after purchasing an additional 26,464 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Matson by 0.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,165,940 shares of the shipping company’s stock worth $195,000,000 after purchasing an additional 9,892 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Matson by 6.2% during the first quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock worth $253,890,000 after purchasing an additional 122,200 shares during the period. 85.85% of the stock is currently owned by institutional investors and hedge funds.

About Matson (Get Rating)

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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