Matthew J. Cox Sells 6,499 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATXGet Free Report) CEO Matthew J. Cox sold 6,499 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $143.82, for a total value of $934,686.18. Following the completion of the sale, the chief executive officer now owns 208,898 shares in the company, valued at $30,043,710.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Matson Stock Down 1.2 %

MATX stock opened at $140.97 on Wednesday. Matson, Inc. has a 12 month low of $82.68 and a 12 month high of $144.93. The firm has a market cap of $4.92 billion, a PE ratio of 16.62 and a beta of 1.07. The firm has a 50 day simple moving average of $132.87 and a 200 day simple moving average of $122.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Matson (NYSE:MATXGet Free Report) last issued its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating the consensus estimate of $3.05 by $0.26. The business had revenue of $847.40 million during the quarter, compared to the consensus estimate of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.87%. Equities research analysts forecast that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Matson

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Matson in the second quarter worth approximately $759,000. Creative Planning lifted its position in Matson by 98.5% in the 2nd quarter. Creative Planning now owns 8,906 shares of the shipping company’s stock worth $1,166,000 after buying an additional 4,420 shares in the last quarter. Lighthouse Investment Partners LLC boosted its stake in shares of Matson by 57.8% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 101,000 shares of the shipping company’s stock valued at $13,228,000 after buying an additional 37,000 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Matson by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,923 shares of the shipping company’s stock valued at $2,609,000 after buying an additional 373 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after acquiring an additional 134,092 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the subject of several recent analyst reports. Stephens increased their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Read Our Latest Report on Matson

About Matson

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Matson (NYSE:MATX)

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