Key Points
- SVP Christopher Scott sold 2,509 shares at an average price of $155 on March 11 for about $388,895, trimming his stake by 14.72% to 14,533 shares worth roughly $2.25 million.
- Matson beat quarterly estimates, reporting $4.60 EPS versus a $3.69 consensus and $851.9M in revenue, although revenue was down 4.3% year-over-year.
- Shares traded down to $147.96 (−0.9%) with a consensus price target of $156.25; the company pays a $0.36 quarterly dividend ($1.44 annual, ~1.0% yield) and has a dividend payout ratio of about 10.3%.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Christopher Scott sold 2,509 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $155.00, for a total value of $388,895.00. Following the completion of the sale, the senior vice president owned 14,533 shares of the company's stock, valued at approximately $2,252,615. This trade represents a 14.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Matson Stock Down 0.9%
Shares of NYSE MATX traded down $1.29 during trading on Friday, reaching $147.96. 126,978 shares of the stock were exchanged, compared to its average volume of 311,929. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 10.62 and a beta of 1.32. The business's 50-day moving average price is $154.82 and its 200 day moving average price is $123.48. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $177.51.
Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The company had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. During the same period last year, the firm earned $3.80 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.
Matson Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, February 5th. Matson's dividend payout ratio (DPR) is 10.33%.
Wall Street Analyst Weigh In
Several analysts have issued reports on MATX shares. Weiss Ratings restated a "hold (c)" rating on shares of Matson in a research note on Monday, December 29th. Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday, January 21st. Wolfe Research reaffirmed an "outperform" rating and issued a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Matson from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Matson currently has an average rating of "Hold" and a consensus price target of $156.25.
View Our Latest Stock Analysis on MATX
Hedge Funds Weigh In On Matson
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its position in Matson by 37.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 127,208 shares of the shipping company's stock valued at $12,541,000 after acquiring an additional 34,631 shares during the period. Paradiem LLC lifted its holdings in Matson by 27.9% in the third quarter. Paradiem LLC now owns 102,721 shares of the shipping company's stock worth $10,127,000 after purchasing an additional 22,393 shares during the period. SummerHaven Investment Management LLC bought a new position in Matson in the 3rd quarter valued at about $740,000. Vise Technologies Inc. bought a new position in Matson in the 2nd quarter valued at about $377,000. Finally, American Century Companies Inc. increased its stake in Matson by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company's stock valued at $123,300,000 after buying an additional 35,229 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.
Matson Company Profile
(
Get Free Report)
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.
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