Insider Selling: Matson (NYSE:MATX) SVP Sells $600,046.34 in Stock

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 3,331 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total transaction of $600,046.34. Following the completion of the transaction, the senior vice president directly owned 9,547 shares of the company’s stock, valued at $1,719,796.58. This represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Matson Price Performance

NYSE:MATX opened at $181.43 on Thursday. 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 business’s 50-day simple moving average is $167.35 and its two-hundred day simple moving average is $144.11. The stock has a market cap of $5.49 billion, a PE ratio of 13.33 and a beta of 1.30. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $189.99.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. During the same quarter in the prior year, the company posted $2.18 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts forecast that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson’s dividend payout ratio is presently 10.58%.

Institutional Trading of Matson

Several hedge funds have recently modified their holdings of MATX. Sei Investments Co. grew its holdings in shares of Matson by 421.7% in the first quarter. Sei Investments Co. now owns 26,087 shares of the shipping company’s stock valued at $4,277,000 after purchasing an additional 21,087 shares in the last quarter. State of Wyoming raised its stake in Matson by 86.8% during the first quarter. State of Wyoming now owns 2,858 shares of the shipping company’s stock valued at $469,000 after purchasing an additional 1,328 shares in the last quarter. Cetera Investment Advisers lifted its position in Matson by 4.6% during the first quarter. Cetera Investment Advisers now owns 4,060 shares of the shipping company’s stock valued at $666,000 after purchasing an additional 180 shares during the last quarter. First Trust Advisors LP lifted its position in Matson by 61.6% during the first quarter. First Trust Advisors LP now owns 81,319 shares of the shipping company’s stock valued at $13,331,000 after purchasing an additional 30,998 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in shares of Matson in the 1st quarter worth $1,712,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. began coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Research upgraded 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

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.