Matson, Inc. (NYSE:MATX) SVP Richard S. Kinney Sells 1,997 Shares

Matson, Inc. (NYSE:MATX) SVP Richard S. Kinney sold 1,997 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matson Stock Down 0.2 %

Shares of NYSE:MATX opened at $133.02 on Friday. The business’s 50 day simple moving average is $139.50 and its two-hundred day simple moving average is $141.44. The firm has a market cap of $4.37 billion, a P/E ratio of 11.07 and a beta of 1.05. 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 $100.50 and a 52-week high of $169.12.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. As a group, research analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.02%. Matson’s dividend payout ratio is presently 9.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens increased their price target on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price target on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MATX. Pacer Advisors Inc. lifted its holdings in shares of Matson by 4,167,726.1% in the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock valued at $136,716,000 after purchasing an additional 958,577 shares in the last quarter. Norges Bank purchased a new stake in shares of Matson during the fourth quarter valued at approximately $35,016,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Matson during the fourth quarter valued at approximately $34,897,000. Ameriprise Financial Inc. increased its position in shares of Matson by 73.9% during the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock valued at $56,157,000 after acquiring an additional 177,000 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new stake in shares of Matson during the fourth quarter valued at approximately $20,204,000. 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.