Matson, Inc. (NYSE:MATX) SVP Sells $314,944.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 2,800 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the sale, the senior vice president now owns 4,746 shares of the company’s stock, valued at approximately $533,830.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matson Trading Up 2.1 %

NYSE MATX opened at $114.22 on Friday. Matson, Inc. has a 12 month low of $64.21 and a 12 month high of $122.99. The stock has a 50-day simple moving average of $108.82 and a 200 day simple moving average of $106.64. 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 company has a market capitalization of $3.90 billion, a PE ratio of 13.47 and a beta of 1.12.

Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $730.44 million. During the same period in the prior year, the business posted $0.94 EPS. Matson’s revenue was up 2.5% on a year-over-year basis. Research analysts forecast that Matson, Inc. will post 8.51 EPS for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.12%. Matson’s dividend payout ratio is 15.09%.

Hedge Funds Weigh In On Matson

Institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in Matson by 25.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,793 shares of the shipping company’s stock worth $1,438,000 after acquiring an additional 2,620 shares in the last quarter. Advisors Preferred LLC lifted its holdings in shares of Matson by 10.0% during the 1st quarter. Advisors Preferred LLC now owns 19,079 shares of the shipping company’s stock valued at $2,124,000 after purchasing an additional 1,727 shares in the last quarter. Inspire Investing LLC grew its position in shares of Matson by 71.0% in the 1st quarter. Inspire Investing LLC now owns 6,036 shares of the shipping company’s stock valued at $678,000 after purchasing an additional 2,506 shares during the period. Inspire Advisors LLC bought a new stake in Matson during the 1st quarter worth approximately $1,038,000. Finally, Meeder Asset Management Inc. raised its holdings in Matson by 69.6% during the 1st quarter. Meeder Asset Management Inc. now owns 14,875 shares of the shipping company’s stock worth $1,672,000 after buying an additional 6,102 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. StockNews.com downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Thursday.

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.