Matson, Inc. (NYSE:MATX – Get Free Report) SVP Christopher Scott sold 1,520 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total value of $275,196.00. Following the sale, the senior vice president owned 9,708 shares in the company, valued at $1,757,633.40. This trade represents a 13.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Matson Price Performance
MATX stock opened at $181.67 on Friday. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $190.00. The stock’s fifty day simple moving average is $170.69 and its 200-day simple moving average is $147.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 13.35 and a beta of 1.30.
Matson (NYSE:MATX – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The business had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter last year, the firm earned $2.18 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that Matson, Inc. will post 13.96 EPS for the current year.
Matson Announces Dividend
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research upgraded Matson to a “hold” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. started coverage on Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Matson currently has an average rating of “Moderate Buy” and a consensus price target of $181.25.
Get Our Latest Research Report on Matson
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Matson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after acquiring an additional 21,516 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after acquiring an additional 21,463 shares during the last quarter. American Century Companies Inc. boosted its holdings in Matson by 2.9% in the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after acquiring an additional 35,229 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares in the last quarter. Institutional investors and hedge funds 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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