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

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

Matson Trading Up 0.6 %

Shares of MATX stock traded up $0.74 during trading hours on Wednesday, hitting $122.63. 308,069 shares of the company’s stock traded hands, compared to its average volume of 264,356. The stock’s 50 day simple moving average is $121.50 and its 200 day simple moving average is $115.10. The stock has a market cap of $4.28 billion, a PE ratio of 14.46 and a beta of 1.09. Matson, Inc. has a 12 month low of $77.09 and a 12 month high of $133.53. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $722.10 million during 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 company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. On average, sell-side analysts anticipate that Matson, Inc. will post 10.1 EPS for the current year.

Matson Increases Dividend

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

Analysts Set New Price Targets

MATX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Matson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Stephens reaffirmed an “overweight” rating and set a $135.00 price target on shares of Matson in a research note on Friday, May 24th. Finally, Stifel Nicolaus raised their price target on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its holdings in Matson by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after purchasing an additional 108 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in Matson by 5.8% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after purchasing an additional 114 shares during the period. U S Global Investors Inc. grew its holdings in Matson by 13.4% in the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares during the period. Exchange Traded Concepts LLC grew its holdings in Matson by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock worth $862,000 after purchasing an additional 128 shares during the period. Finally, Measured Wealth Private Client Group LLC grew its holdings in Matson by 6.4% in the first quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after purchasing an additional 140 shares during the period. Institutional investors own 84.76% of the company’s stock.

Matson Company Profile

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.