Matson (NYSE:MATX) SVP Sells $208,490.00 in Stock

Matson, Inc. (NYSE:MATXGet Free Report) SVP Kuuhaku Park sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $208,490.00. Following the completion of the transaction, the senior vice president owned 9,984 shares in the company, valued at $2,081,564.16. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Matson Stock Performance

Matson stock opened at $217.75 on Friday. The company has a 50 day moving average price of $204.18 and a 200-day moving average price of $181.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $230.74. The company has a market capitalization of $6.51 billion, a PE ratio of 14.56 and a beta of 1.27.

Matson (NYSE:MATXGet Free Report) last announced its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The firm had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. During the same quarter in the previous year, the business earned $2.92 earnings per share. Matson’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities analysts forecast that Matson, Inc. will post 16.01 earnings per share for the current year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be issued a $0.38 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. This is a positive change from Matson’s previous quarterly dividend of $0.36. Matson’s dividend payout ratio (DPR) is currently 10.16%.

Analysts Set New Price Targets

Several brokerages have recently commented on MATX. Wall Street Zen upgraded Matson from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Stephens upped their price objective on shares of Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research raised shares of Matson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Matson from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $232.33.

Get Our Latest Analysis on MATX

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MATX. Danske Bank A S bought a new stake in Matson during the fourth quarter valued at about $25,000. Allworth Financial LP purchased a new position in Matson in the second quarter valued at about $28,000. Headlands Technologies LLC bought a new position in Matson in the second quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in Matson in the third quarter worth about $30,000. Finally, SouthState Bank Corp purchased a new stake in shares of Matson during the fourth quarter valued at about $31,000. 84.76% of the stock is owned by institutional investors.

Matson Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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