Matson (NYSE:MATX) announced its quarterly earnings results on Thursday. The shipping company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01, Briefing.com reports. The business had revenue of $572.10 million for the quarter, compared to analysts’ expectations of $574.44 million. Matson had a return on equity of 12.30% and a net margin of 4.15%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS.
Shares of MATX stock traded down $1.30 during trading hours on Friday, reaching $38.54. The company’s stock had a trading volume of 292,735 shares, compared to its average volume of 154,958. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.23, a P/E/G ratio of 3.99 and a beta of 1.59. Matson has a one year low of $30.60 and a one year high of $42.15. The firm’s fifty day simple moving average is $37.88 and its 200 day simple moving average is $37.79. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be given a $0.22 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.28%. Matson’s dividend payout ratio is currently 34.78%.
In other news, SVP Rusty K. Rolfe sold 3,047 shares of Matson stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $40.67, for a total value of $123,921.49. Following the sale, the senior vice president now directly owns 56,304 shares in the company, valued at approximately $2,289,883.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.14, for a total value of $565,754.00. Following the completion of the sale, the insider now owns 43,926 shares in the company, valued at $1,543,559.64. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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