Matson, Inc. (NYSE:MATX) CEO Sells $1,028,775.00 in Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 7,500 shares of Matson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at approximately $29,546,006.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Matson Trading Down 2.6 %

NYSE MATX opened at $131.17 on Friday. The firm’s 50-day moving average is $130.69 and its two-hundred day moving average is $119.76. Matson, Inc. has a 12 month low of $82.68 and a 12 month high of $138.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $4.58 billion, a P/E ratio of 15.47 and a beta of 1.09.

Matson (NYSE:MATX) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The company had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. On average, sell-side analysts anticipate that Matson, Inc. will post 10.49 earnings per share for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.04%. Matson’s dividend payout ratio is 16.04%.

Institutional Trading of Matson

A number of institutional investors and hedge funds have recently bought and sold shares of MATX. International Assets Investment Management LLC increased its stake in Matson by 10,860.0% during the fourth quarter. International Assets Investment Management LLC now owns 32,880 shares of the shipping company’s stock worth $3,604,000 after purchasing an additional 32,580 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Matson by 35.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,155 shares of the shipping company’s stock worth $236,000 after purchasing an additional 565 shares during the period. New York State Common Retirement Fund increased its stake in Matson by 20.2% during the fourth quarter. New York State Common Retirement Fund now owns 24,891 shares of the shipping company’s stock worth $2,728,000 after purchasing an additional 4,182 shares during the period. Atria Wealth Solutions Inc. increased its stake in Matson by 84.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,416 shares of the shipping company’s stock worth $484,000 after purchasing an additional 2,023 shares during the period. Finally, Natixis Advisors L.P. purchased a new stake in Matson during the fourth quarter worth about $1,663,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MATX. Stephens lifted their target price on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday.

About Matson

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.