Leonard P. Isotoff Sells 492 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total value of $79,339.92. Following the sale, the senior vice president now directly owns 4,254 shares in the company, valued at approximately $686,000.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matson Stock Down 2.7 %

Shares of Matson stock opened at $161.25 on Friday. The firm has a market cap of $5.36 billion, a PE ratio of 13.42 and a beta of 1.06. The business’s 50 day simple moving average is $137.79 and its 200 day simple moving average is $128.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 52-week low of $89.08 and a 52-week high of $167.24.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period last year, the company earned $3.40 earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, analysts predict that Matson, Inc. will post 12.11 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.84%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Analysts Set New Price Targets

Several analysts have commented on MATX shares. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd.

Hedge Funds Weigh In On Matson

Several hedge funds have recently modified their holdings of MATX. BNP Paribas Financial Markets boosted its position in Matson by 35.8% during the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock valued at $2,172,000 after purchasing an additional 5,095 shares during the last quarter. LSV Asset Management grew its stake in shares of Matson by 18.1% in the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock valued at $31,783,000 after buying an additional 43,324 shares in the last quarter. PAX Financial Group LLC bought a new position in shares of Matson in the first quarter valued at $605,000. Caxton Associates LP increased its holdings in Matson by 283.4% during the first quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock worth $925,000 after buying an additional 6,085 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in Matson by 31.5% during the second quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock worth $9,832,000 after acquiring an additional 17,992 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

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.