Matson, Inc. (NYSE:MATX) CFO Joel M. Wine Sells 8,941 Shares of Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 8,941 shares of Matson stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the sale, the chief financial officer now owns 151,329 shares in the company, valued at $19,491,175.20. The sale was disclosed in a document filed with the SEC, which is available through this link.

Matson Trading Up 1.6 %

Shares of Matson stock opened at $130.97 on Friday. The company has a market capitalization of $4.58 billion, a P/E ratio of 15.44 and a beta of 1.11. The company’s fifty day moving average is $118.48 and its two-hundred day moving average is $113.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson, Inc. has a 1 year low of $74.04 and a 1 year high of $133.53.

Matson (NYSE:MATX) last issued its 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 business had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Analysts forecast that Matson, Inc. will post 10.1 earnings per share for the current year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be issued a $0.34 dividend. This is an increase from Matson’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, August 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.04%. Matson’s payout ratio is presently 15.09%.

Institutional Trading of Matson

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Matson by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after purchasing an additional 215,452 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Matson by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock valued at $291,386,000 after purchasing an additional 43,846 shares during the period. American Century Companies Inc. lifted its stake in shares of Matson by 11.2% in the third quarter. American Century Companies Inc. now owns 653,613 shares of the shipping company’s stock valued at $57,989,000 after purchasing an additional 65,736 shares during the period. London Co. of Virginia lifted its stake in shares of Matson by 1.5% in the third quarter. London Co. of Virginia now owns 303,948 shares of the shipping company’s stock valued at $26,966,000 after purchasing an additional 4,455 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Matson by 25.5% in the fourth quarter. First Trust Advisors LP now owns 293,163 shares of the shipping company’s stock valued at $32,131,000 after purchasing an additional 59,652 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on MATX shares. Stephens reissued an “overweight” rating and set a $135.00 price objective on shares of Matson in a research report on Friday, May 24th. Stifel Nicolaus raised their price objective 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. Finally, StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Monday, June 24th.

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.