Matson, Inc. (NYSE:MATX) CFO Joel M. Wine Sells 12,821 Shares

Matson, Inc. (NYSE:MATXGet Free Report) CFO Joel M. Wine sold 12,821 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the sale, the chief financial officer now owns 126,418 shares of the company’s stock, valued at $15,579,754.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matson Trading Up 0.6 %

Shares of NYSE:MATX opened at $122.63 on Thursday. Matson, Inc. has a 52-week low of $77.09 and a 52-week high of $133.53. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 14.46 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $121.50 and a 200-day moving average price of $115.10.

Matson (NYSE:MATXGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. Matson’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.94 earnings per share. Equities analysts predict that Matson, Inc. will post 10.1 EPS for the current year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 1st will be given a dividend of $0.34 per share. This is a boost from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 1st. Matson’s dividend payout ratio (DPR) is currently 15.09%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MATX. McGlone Suttner Wealth Management Inc. purchased a new position in Matson during the fourth quarter valued at approximately $26,000. USA Financial Formulas acquired a new stake in Matson in the fourth quarter valued at approximately $26,000. Security National Bank acquired a new stake in Matson in the fourth quarter valued at approximately $36,000. Blue Trust Inc. grew its holdings in Matson by 109.6% in the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 217 shares during the period. Finally, Evermay Wealth Management LLC acquired a new stake in Matson in the fourth quarter valued at approximately $66,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MATX. Stephens reiterated an “overweight” rating and issued a $135.00 price target on shares of Matson in a research note on Friday, May 24th. Stifel Nicolaus raised their price objective on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd.

Get Our Latest Stock Report on MATX

Matson Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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