Peter Heilmann Sells 7,173 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Peter Heilmann sold 7,173 shares of Matson stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the transaction, the executive vice president directly owned 25,506 shares in the company, valued at $4,595,926.14. This represents a 21.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Matson Price Performance

Shares of NYSE:MATX opened at $179.56 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $189.99. The company has a market capitalization of $5.43 billion, a P/E ratio of 13.19 and a beta of 1.30. The firm’s 50 day simple moving average is $167.87 and its two-hundred day simple moving average is $144.98.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share 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 business had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts expect that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. 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 note on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Stephens upped their price objective on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MATX. EverSource Wealth Advisors LLC raised its position in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Matson by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after purchasing an additional 104 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Matson by 0.4% in 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 purchasing an additional 109 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Matson by 3.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock valued at $354,000 after purchasing an additional 116 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. 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.