Matson, Inc. (NYSE:MATX – Get Rating) EVP Rusty K. Rolfe sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $81.64, for a total transaction of $408,200.00. Following the sale, the executive vice president now directly owns 25,499 shares in the company, valued at $2,081,738.36. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Matson Price Performance
Shares of NYSE MATX traded down $3.74 during mid-day trading on Wednesday, hitting $81.08. 246,384 shares of the stock traded hands, compared to its average volume of 454,845. The company has a market cap of $3.16 billion, a PE ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.76 and a quick ratio of 1.76. Matson, Inc. has a twelve month low of $68.36 and a twelve month high of $125.34. The firm has a 50 day simple moving average of $79.14 and a two-hundred day simple moving average of $90.95.
Matson (NYSE:MATX – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The shipping company reported $9.49 earnings per share for the quarter, topping the consensus estimate of $9.38 by $0.11. Matson had a return on equity of 79.22% and a net margin of 29.33%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.35 billion. As a group, equities research analysts forecast that Matson, Inc. will post 29.88 EPS for the current fiscal year.
Matson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 4th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Matson’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 3rd. Matson’s payout ratio is presently 3.69%.
Analyst Ratings Changes
Several research firms have recently weighed in on MATX. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 2nd. Wolfe Research started coverage on Matson in a research note on Tuesday. They set an “underperform” rating and a $80.00 target price on the stock. Finally, Stifel Nicolaus lowered Matson from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $93.00 in a research note on Tuesday, August 2nd.
Hedge Funds Weigh In On Matson
A number of hedge funds have recently added to or reduced their stakes in the stock. Ellevest Inc. boosted its stake in Matson by 43.8% during the 1st quarter. Ellevest Inc. now owns 358 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Chatham Capital Group Inc. boosted its stake in Matson by 0.3% during the 2nd quarter. Chatham Capital Group Inc. now owns 42,296 shares of the shipping company’s stock valued at $3,083,000 after purchasing an additional 110 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in Matson by 4.0% during the 1st quarter. Evergreen Capital Management LLC now owns 2,995 shares of the shipping company’s stock valued at $361,000 after purchasing an additional 115 shares during the last quarter. Franklin Resources Inc. boosted its stake in Matson by 4.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,899 shares of the shipping company’s stock valued at $284,000 after purchasing an additional 153 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in Matson by 80.3% during the 1st quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 85.85% of the company’s stock.
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.