Matson, Inc. (NYSE:MATX - Get Free Report) SVP Leonard P. Isotoff sold 2,800 shares of the business's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $112.48, for a total transaction of $314,944.00. Following the transaction, the senior vice president now owns 4,746 shares in the company, valued at $533,830.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Matson Stock Performance
Shares of NYSE MATX opened at $112.02 on Wednesday. Matson, Inc. has a 52 week low of $64.21 and a 52 week high of $122.99. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 13.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The business's 50-day simple moving average is $108.68 and its 200-day simple moving average is $106.55.
Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.05. The business had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. Matson's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. As a group, equities research analysts expect that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.
Matson Announces Dividend
A letter is coming from the "Bureau of the Fiscal Service".
From Stansberry Research | Ad
Is your bank next?
A powerful new trend is spreading like wildfire inside the US financial system. At least 41 banks are already involved. But the Federal Reserve predicts that number will grow fast.
See if your bank is involved right here.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. Matson's dividend payout ratio is 15.09%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on MATX shares. Stifel Nicolaus boosted their price target on Matson from $109.00 to $111.00 and gave the company a "hold" rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Matson from a "hold" rating to a "buy" rating in a research report on Wednesday, May 1st.
Get Our Latest Stock Analysis on MATX
Hedge Funds Weigh In On Matson
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Inspire Investing LLC increased its stake in shares of Matson by 71.0% in the first quarter. Inspire Investing LLC now owns 6,036 shares of the shipping company's stock valued at $678,000 after buying an additional 2,506 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Matson in the 1st quarter valued at about $1,038,000. Meeder Asset Management Inc. raised its stake in shares of Matson by 69.6% in the first quarter. Meeder Asset Management Inc. now owns 14,875 shares of the shipping company's stock worth $1,672,000 after acquiring an additional 6,102 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Matson during the first quarter worth approximately $182,000. Finally, LSV Asset Management grew its stake in shares of Matson by 18.1% during the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company's stock valued at $31,783,000 after purchasing an additional 43,324 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
Matson Company Profile
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
