Laura Rascon Sells 2,800 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 2,800 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $188.53, for a total transaction of $527,884.00. Following the transaction, the senior vice president directly owned 15,656 shares of the company’s stock, valued at approximately $2,951,625.68. This trade represents a 15.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Matson Stock Performance

Shares of MATX traded up $2.38 during midday trading on Tuesday, hitting $194.60. 331,625 shares of the stock traded hands, compared to its average volume of 278,146. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $197.63. The firm has a market capitalization of $5.89 billion, a PE ratio of 14.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50 day moving average price is $177.04 and its two-hundred day moving average price is $154.39.

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

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 7th. Matson’s payout ratio is currently 10.58%.

Hedge Funds Weigh In On Matson

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in Matson by 57.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 94 shares in the last quarter. Bessemer Group Inc. grew its stake in Matson by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after acquiring an additional 104 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Matson by 0.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock valued at $2,418,000 after acquiring an additional 107 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Matson by 0.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after acquiring an additional 109 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

MATX has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th. Zacks Research upgraded shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price target on the stock. Finally, Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Matson presently has an average rating of “Moderate Buy” and an average target price of $181.25.

Matson Company Profile

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.