Insider Selling: Matson, Inc. (NYSE:MATX) CEO Sells 5,000 Shares of Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 5,000 shares of Matson stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $66.78, for a total transaction of $333,900.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matthew J. Cox also recently made the following trade(s):

  • On Wednesday, July 7th, Matthew J. Cox sold 5,000 shares of Matson stock. The shares were sold at an average price of $64.04, for a total transaction of $320,200.00.

NYSE MATX opened at $66.15 on Thursday. The business has a fifty day moving average price of $63.90. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.61. Matson, Inc. has a 12-month low of $34.78 and a 12-month high of $79.05. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.44 and a beta of 0.97.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.36. Matson had a net margin of 10.71% and a return on equity of 29.91%. The business had revenue of $711.80 million for the quarter, compared to analyst estimates of $686.05 million. On average, analysts forecast that Matson, Inc. will post 9.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 2nd. Stockholders of record on Thursday, August 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 4th. This is a positive change from Matson’s previous quarterly dividend of $0.23. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. Matson’s payout ratio is 20.72%.

Separately, Stephens reissued an “equal weight” rating and set a $70.00 price objective on shares of Matson in a report on Wednesday, May 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Matson has an average rating of “Buy” and an average target price of $54.00.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its holdings in shares of Matson by 3.4% during the first quarter. Crossmark Global Holdings Inc. now owns 7,830 shares of the shipping company’s stock valued at $522,000 after buying an additional 260 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Matson by 1.7% during 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 buying an additional 300 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Matson by 64.6% during the first quarter. Rockefeller Capital Management L.P. now owns 879 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 345 shares during the period. Mutual of America Capital Management LLC lifted its position in Matson by 7.3% during the first quarter. Mutual of America Capital Management LLC now owns 5,801 shares of the shipping company’s stock valued at $387,000 after purchasing an additional 397 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Matson by 55.4% during 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 period. 84.98% of the stock is currently owned by hedge funds and other institutional investors.

About Matson

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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Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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