Vic Angoco Jr Sells 6,189 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Vic Angoco, Jr. sold 6,189 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $165.31, for a total transaction of $1,023,103.59. Following the completion of the transaction, the executive vice president owned 14,800 shares in the company, valued at $2,446,588. This trade represents a 29.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Matson Stock Performance

Matson stock traded down $1.29 during midday trading on Wednesday, hitting $167.24. The company’s stock had a trading volume of 250,014 shares, compared to its average volume of 305,667. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 12.00 and a beta of 1.32. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $177.51. The company has a 50-day moving average price of $150.39 and a two-hundred day moving average price of $121.20.

Matson (NYSE:MATX) last announced its earnings results on Tuesday, February 24th. The shipping company reported $4.60 EPS for the quarter, topping the consensus estimate of $3.69 by $0.91. Matson had a net margin of 13.30% and a return on equity of 16.63%. The company had revenue of $851.90 million for the quarter, compared to analysts’ expectations of $847.30 million. During the same period last year, the firm earned $3.80 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a yield of 0.9%. Matson’s payout ratio is currently 10.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MATX shares. Stephens raised their price target on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Wolfe Research restated an “outperform” rating and issued a $167.00 target price on shares of Matson in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $156.25.

Institutional Trading of Matson

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Global Investments boosted its stake in Matson by 23.8% in the fourth quarter. Summit Global Investments now owns 11,867 shares of the shipping company’s stock valued at $1,466,000 after buying an additional 2,278 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Matson in the fourth quarter worth about $760,000. Uniplan Investment Counsel Inc. acquired a new stake in shares of Matson in the 4th quarter valued at approximately $201,000. Voloridge Investment Management LLC acquired a new stake in shares of Matson in the 4th quarter valued at approximately $1,725,000. Finally, SummitTX Capital L.P. bought a new stake in shares of Matson during the 4th quarter valued at approximately $6,303,000. 84.76% of the stock is currently owned by institutional investors.

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.