Matson (NYSE:MATX) SVP Leonard Isotoff Sells 1,250 Shares

Matson, Inc. (NYSE:MATX) SVP Leonard Isotoff sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total value of $260,375.00. Following the completion of the transaction, the senior vice president directly owned 6,527 shares in the company, valued at $1,359,574.10. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Stock Performance

Shares of MATX stock traded up $10.00 during trading hours on Wednesday, reaching $214.41. 239,233 shares of the company traded hands, compared to its average volume of 292,274. The firm has a 50-day moving average price of $202.49 and a 200 day moving average price of $180.52. The company has a market cap of $6.41 billion, a P/E ratio of 14.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74.

Matson (NYSE:MATX) last released its earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The company had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. During the same period in the prior year, the firm posted $2.92 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts predict that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. Matson’s dividend payout ratio is currently 10.16%.

Analyst Ratings Changes

A number of research firms recently weighed in on MATX. Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Stephens raised their price target on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Wall Street Zen raised Matson from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their target price on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Matson currently has a consensus rating of “Buy” and a consensus target price of $232.33.

Institutional Investors Weigh In On Matson

Several large investors have recently bought and sold shares of the business. Evolve Private Wealth LLC bought a new position in Matson during the second quarter valued at $1,303,000. William Blair Investment Management LLC purchased a new position in shares of Matson in the 2nd quarter worth $25,390,000. Allworth Financial LP bought a new stake in shares of Matson in the 2nd quarter worth about $28,000. Advisors Preferred LLC bought a new stake in shares of Matson in the 2nd quarter worth about $2,245,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Matson during the 2nd quarter valued at about $390,000. Institutional investors own 84.76% of the company’s stock.

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.