Matson, Inc. (NYSE:MATX - Get Free Report) SVP John Warren Sullivan sold 893 shares of the company's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total transaction of $98,765.80. Following the completion of the sale, the senior vice president now directly owns 13,495 shares of the company's stock, valued at approximately $1,492,547. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Matson Stock Up 0.7 %
NYSE MATX traded up $0.75 on Friday, hitting $115.00. The stock had a trading volume of 14,611 shares, compared to its average volume of 261,948. Matson, Inc. has a 52-week low of $64.21 and a 52-week high of $122.99. The business's fifty day moving average price is $108.82 and its 200 day moving average price is $106.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 13.47 and a beta of 1.12.
Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. Equities research analysts anticipate that Matson, Inc. will post 8.51 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, May 8th. Matson's dividend payout ratio (DPR) is presently 15.09%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MATX. SummerHaven Investment Management LLC increased its holdings in Matson by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company's stock valued at $1,028,000 after buying an additional 108 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in Matson by 5.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company's stock worth $229,000 after purchasing an additional 114 shares during the period. U S Global Investors Inc. boosted its position in Matson by 13.4% during the fourth quarter. U S Global Investors Inc. now owns 997 shares of the shipping company's stock worth $109,000 after purchasing an additional 118 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Matson by 1.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company's stock valued at $862,000 after purchasing an additional 128 shares during the period. Finally, Measured Wealth Private Client Group LLC increased its position in shares of Matson by 6.4% in the first quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company's stock valued at $262,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Stifel Nicolaus upped their target price on Matson from $109.00 to $111.00 and gave the stock a "hold" rating in a report on Wednesday, May 1st. StockNews.com cut Matson from a "buy" rating to a "hold" rating in a research note on Thursday.
Check Out Our Latest Report on Matson
Matson Company Profile
(
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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.
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