Insider Selling: Matson, Inc. (NYSE:MATX) CFO Sells $1,054,640.00 in Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 8,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $131.83, for a total transaction of $1,054,640.00. Following the completion of the sale, the chief financial officer now directly owns 98,974 shares in the company, valued at $13,047,742.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Matson Stock Up 0.1 %

Shares of NYSE MATX traded up $0.10 during mid-day trading on Tuesday, reaching $132.19. The company had a trading volume of 227,265 shares, compared to its average volume of 267,584. Matson, Inc. has a 52-week low of $82.68 and a 52-week high of $135.17. The stock has a market cap of $4.62 billion, a P/E ratio of 15.56 and a beta of 1.09. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $125.40 and a two-hundred day simple moving average of $116.67.

Matson (NYSE:MATX) last posted its 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. The business had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The business’s 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. Sell-side analysts predict that Matson, Inc. will post 10.1 earnings per share for the current year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.34 per share. This is a positive change 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 yield of 1.03%. Matson’s payout ratio is 15.09%.

Institutional Investors Weigh In On Matson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Matson in the 4th quarter valued at $26,000. Blue Trust Inc. grew its position in Matson by 109.6% during the 4th 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. U S Global Investors Inc. increased its stake in Matson by 13.4% in the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 118 shares during the period. Regency Capital Management Inc. DE purchased a new stake in shares of Matson in the fourth quarter valued at about $318,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Matson by 10,860.0% during the fourth quarter. International Assets Investment Management LLC now owns 32,880 shares of the shipping company’s stock worth $3,604,000 after buying an additional 32,580 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

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

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.