Matson, Inc. (NYSE:MATX – Get Free Report) SVP Laura Rascon sold 540 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $180.83, for a total transaction of $97,648.20. Following the completion of the transaction, the senior vice president directly owned 18,456 shares in the company, valued at $3,337,398.48. The trade was a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Matson Price Performance
Shares of NYSE:MATX traded down $3.11 during trading on Friday, reaching $179.14. The company had a trading volume of 87,712 shares, compared to its average volume of 284,524. The company has a fifty day moving average of $167.62 and a two-hundred day moving average of $144.74. The stock has a market capitalization of $5.42 billion, a P/E ratio of 13.16 and a beta of 1.30. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $189.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.
Matson (NYSE:MATX – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 EPS. Equities research analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.
Matson Announces Dividend
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Stephens increased their price target on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. initiated coverage on shares of Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price target on the stock. Finally, Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.
Check Out Our Latest Report on MATX
Hedge Funds Weigh In On Matson
Several institutional investors and hedge funds have recently made changes to their positions in MATX. Royal Bank of Canada grew its holdings in Matson by 8.3% in the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after acquiring an additional 3,155 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Matson by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after acquiring an additional 863 shares during the last quarter. Millennium Management LLC grew its holdings in Matson by 7.1% in the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after acquiring an additional 6,778 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Matson in the 1st quarter worth $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Matson by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock worth $3,135,000 after acquiring an additional 2,492 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.
About Matson
Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.
In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.
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