Vic S. Angoco, Jr. Sells 11,500 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Vic S. Angoco, Jr. sold 11,500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $90.52, for a total value of $1,040,980.00. Following the completion of the sale, the senior vice president now owns 23,693 shares in the company, valued at $2,144,690.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Matson Trading Down 0.0 %

MATX opened at $89.75 on Thursday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 10.32 and a beta of 1.18. The stock’s 50 day moving average price is $88.25 and its 200-day moving average price is $81.81. Matson, Inc. has a one year low of $56.51 and a one year high of $97.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.11.

Matson (NYSE:MATX) last posted its earnings results on Monday, October 30th. The shipping company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.36 by $0.04. Matson had a return on equity of 13.53% and a net margin of 10.06%. The company had revenue of $827.50 million during the quarter, compared to analyst estimates of $798.86 million. During the same quarter in the prior year, the business earned $6.89 earnings per share. Matson’s revenue was down 25.8% on a year-over-year basis. On average, equities analysts forecast that Matson, Inc. will post 7.43 EPS for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 8th. Matson’s dividend payout ratio is currently 14.71%.

Institutional Investors Weigh In On Matson

A number of institutional investors have recently modified their holdings of MATX. Parallel Advisors LLC increased its stake in Matson by 43.1% during the 2nd quarter. Parallel Advisors LLC now owns 362 shares of the shipping company’s stock worth $28,000 after buying an additional 109 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Matson by 4.0% in the first quarter. Evergreen Capital Management LLC now owns 2,995 shares of the shipping company’s stock valued at $361,000 after buying an additional 115 shares during the last quarter. CWM LLC increased its holdings in Matson by 41.4% in the second quarter. CWM LLC now owns 413 shares of the shipping company’s stock valued at $32,000 after buying an additional 121 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Matson by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the shipping company’s stock valued at $1,126,000 after acquiring an additional 141 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in Matson by 0.7% in the second quarter. Bridgewater Associates LP now owns 21,296 shares of the shipping company’s stock valued at $1,655,000 after acquiring an additional 149 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MATX shares. Stifel Nicolaus boosted their target price on Matson from $90.00 to $102.00 and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Wolfe Research boosted their target price on Matson from $113.00 to $116.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. StockNews.com cut Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Stephens boosted their price objective on Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd.

Matson Company Profile

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.