Matson, Inc. (NYSE:MATX) President Ronald J. Forest sold 2,500 shares of the stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $66.55, for a total value of $166,375.00. Following the completion of the transaction, the president now directly owns 78,076 shares of the company’s stock, valued at $5,195,957.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
MATX stock opened at $67.56 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $2.93 billion, a P/E ratio of 23.79 and a beta of 0.99. The business’s 50-day moving average is $69.46 and its two-hundred day moving average is $63.66. Matson, Inc. has a 1 year low of $23.75 and a 1 year high of $79.05.
Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.36. Matson had a return on equity of 14.86% and a net margin of 5.54%. On average, analysts expect that Matson, Inc. will post 3.93 EPS for the current year.
Separately, Stephens cut Matson from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $80.00 to $70.00 in a report on Thursday, April 29th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Matson by 0.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 28,370 shares of the shipping company’s stock worth $1,616,000 after acquiring an additional 200 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Matson by 3.4% in the first quarter. Crossmark Global Holdings Inc. now owns 7,830 shares of the shipping company’s stock valued at $522,000 after purchasing an additional 260 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Matson by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,568 shares of the shipping company’s stock valued at $1,172,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Matson by 55.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,172 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 418 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new position in Matson in the fourth quarter valued at $27,000. 86.56% of the stock is owned by institutional investors.
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.
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