Matson, Inc. (NYSE:MATX) CEO Sells $1,028,775.00 in Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 7,500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares in the company, valued at approximately $29,546,006.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Matson Price Performance

Shares of NYSE MATX opened at $131.17 on Friday. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.47 and a beta of 1.09. Matson, Inc. has a 12 month low of $82.68 and a 12 month high of $138.84. The firm’s 50 day simple moving average is $130.69 and its 200-day simple moving average is $119.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Matson (NYSE:MATX) last issued its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. The business had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.87%. Analysts expect that Matson, Inc. will post 10.49 EPS for the current year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. Matson’s payout ratio is presently 16.04%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Matson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. USA Financial Formulas purchased a new stake in Matson in the 4th quarter worth $26,000. TruNorth Capital Management LLC purchased a new stake in Matson in the 2nd quarter worth $27,000. Redwood Wealth Management Group LLC purchased a new stake in Matson in the 2nd quarter worth $34,000. Security National Bank purchased a new stake in Matson in the 4th quarter worth $36,000. Finally, International Assets Investment Management LLC purchased a new stake in Matson in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About Matson

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.