Insider Selling: Matson (NYSE:MATX) Director Sells $289,868.90 in Stock

Matson, Inc. (NYSE:MATX) Director Bradley Tilden sold 1,594 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $181.85, for a total value of $289,868.90. Following the completion of the transaction, the director owned 7,555 shares in the company, valued at approximately $1,373,876.75. The trade was a 17.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matson Price Performance

Matson stock opened at $181.43 on Thursday. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $189.99. The company has a current ratio of 0.82, a quick 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 200 day simple moving average is $144.11. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 13.33 and a beta of 1.30.

Matson (NYSE:MATX) last issued its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 EPS. Sell-side analysts forecast that Matson, Inc. will post 13.96 EPS for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s dividend payout ratio is currently 10.58%.

Analyst Ratings Changes

A number of research firms recently commented on MATX. Stephens increased their target price on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research raised Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. started coverage on Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.

Institutional Investors Weigh In On Matson

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of Matson by 421.7% during 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 lifted its holdings in shares of 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 boosted its holdings in Matson by 4.6% in the first quarter. Cetera Investment Advisers now owns 4,060 shares of the shipping company’s stock worth $666,000 after purchasing an additional 180 shares during the last quarter. First Trust Advisors LP boosted its holdings in Matson by 61.6% in the first quarter. First Trust Advisors LP now owns 81,319 shares of the shipping company’s stock worth $13,331,000 after purchasing an additional 30,998 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in Matson in the first quarter worth approximately $1,712,000. Institutional investors 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.