Matson (NYSE:MATX) SVP Sells $220,284.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Grace Cerocke sold 1,200 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $183.57, for a total transaction of $220,284.00. Following the sale, the senior vice president directly owned 17,986 shares of the company’s stock, valued at $3,301,690.02. This represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Matson Stock Performance

NYSE:MATX opened at $181.42 on Monday. The company has a market capitalization of $5.49 billion, a PE ratio of 13.33 and a beta of 1.29. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $190.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50 day simple moving average of $173.72 and a two-hundred day simple moving average of $150.95.

Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. Research analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s dividend payout ratio (DPR) is 10.58%.

Hedge Funds Weigh In On Matson

A number of large investors have recently modified their holdings of MATX. Millennium Management LLC lifted its holdings in shares of Matson by 144.9% in the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Matson in the 3rd quarter worth $26,415,000. Encompass Capital Advisors LLC bought a new position in shares of Matson in the 1st quarter worth $32,761,000. Norges Bank bought a new position in shares of Matson in the 4th quarter worth $17,276,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MATX has been the subject of several recent analyst reports. Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Matson has a consensus rating of “Moderate Buy” and an average price target of $181.25.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.