Matson, Inc. (NYSE:MATX) CFO Sells $1,031,120.00 in Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 8,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $128.89, for a total transaction of $1,031,120.00. Following the sale, the chief financial officer now directly owns 106,974 shares of the company’s stock, valued at approximately $13,787,878.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matson Price Performance

NYSE:MATX opened at $130.36 on Monday. The stock has a market cap of $4.55 billion, a PE ratio of 15.37 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’s 50-day simple moving average is $125.06 and its two-hundred day simple moving average is $116.52. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $133.88.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $730.44 million. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts forecast that Matson, Inc. will post 10.1 EPS for the current fiscal year.

Matson Increases Dividend

The business 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 annualized dividend and a yield of 1.04%. This is a boost from Matson’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, August 1st. Matson’s dividend payout ratio (DPR) is presently 16.04%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MATX. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Stifel Nicolaus increased their target price on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $135.00 price target on shares of Matson in a report on Friday, May 24th.

Institutional Trading of Matson

Several hedge funds have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Matson in the fourth quarter worth about $26,000. USA Financial Formulas bought a new stake in Matson in the 4th quarter worth approximately $26,000. TruNorth Capital Management LLC bought a new position in shares of Matson during the 2nd quarter valued at approximately $27,000. Security National Bank purchased a new position in shares of Matson in the fourth quarter valued at $36,000. Finally, Blue Trust Inc. increased its position in Matson by 109.6% in the fourth quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other 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.