Leonard P. Isotoff Sells 2,800 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 2,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the transaction, the senior vice president now owns 4,746 shares of the company’s stock, valued at approximately $533,830.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Matson Stock Performance

NYSE MATX opened at $111.83 on Thursday. The company’s 50 day simple moving average is $108.76 and its two-hundred day simple moving average is $106.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. Matson, Inc. has a 1 year low of $64.21 and a 1 year high of $122.99. The stock has a market capitalization of $3.82 billion, a PE ratio of 13.19 and a beta of 1.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 annualized dividend and a yield of 1.14%. Matson’s payout ratio is presently 15.09%.

Hedge Funds Weigh In On Matson

A number of institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new position in Matson in the fourth quarter valued at $1,958,000. O Shaughnessy Asset Management LLC increased its position in shares of Matson by 105.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 37,379 shares of the shipping company’s stock valued at $3,316,000 after purchasing an additional 19,149 shares during the last quarter. LSV Asset Management raised its holdings in shares of Matson by 450.4% during the 4th quarter. LSV Asset Management now owns 239,439 shares of the shipping company’s stock valued at $26,243,000 after buying an additional 195,939 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Matson by 317.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 24,763 shares of the shipping company’s stock worth $2,197,000 after buying an additional 18,830 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Matson by 25.4% in the third quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock worth $5,381,000 after buying an additional 12,285 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Thursday.

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.