Key Points
- Matson EVP Peter Heilmann sold 7,173 shares on May 12 at an average price of $180.19, generating about $1.29 million and reducing his stake by 21.95%.
- The company recently beat earnings expectations, reporting $1.85 EPS versus analysts’ $1.65 estimate, though revenue of $757.8 million came in below consensus and was down 3.1% year over year.
- Matson continues to pay a quarterly dividend of $0.36 per share, or $1.44 annualized, for a yield of about 0.8%.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Kuuhaku Park sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $450,475.00. Following the transaction, the senior vice president directly owned 10,984 shares in the company, valued at approximately $1,979,206.96. This represents a 18.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Matson Price Performance
Shares of NYSE MATX opened at $181.94 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 13.37 and a beta of 1.30. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $189.99. The business has a 50 day simple moving average of $167.62 and a 200-day simple moving average of $144.74.
Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the company posted $2.18 earnings per share. The firm's revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts expect that Matson, Inc. will post 13.96 earnings per share for the current year.
Matson Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson's payout ratio is 10.58%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MATX. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. initiated coverage on Matson in a report on Monday, April 27th. They set an "overweight" rating and a $230.00 target price for the company. Zacks Research upgraded Matson to a "hold" rating in a research report on Wednesday, April 29th. Finally, Stephens raised their price target on Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Matson presently has an average rating of "Moderate Buy" and a consensus price target of $181.25.
View Our Latest Stock Analysis on MATX
Institutional Investors Weigh In On Matson
A number of hedge funds have recently made changes to their positions in MATX. Tudor Investment Corp ET AL boosted its position in Matson by 2,944.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 57,850 shares of the shipping company's stock worth $5,703,000 after acquiring an additional 55,950 shares during the period. SummerHaven Investment Management LLC acquired a new position in shares of Matson during the third quarter valued at $740,000. American Century Companies Inc. raised its stake in shares of Matson by 2.9% during the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company's stock valued at $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Citigroup Inc. raised its stake in shares of Matson by 49.3% during the third quarter. Citigroup Inc. now owns 50,580 shares of the shipping company's stock valued at $4,987,000 after purchasing an additional 16,712 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Matson by 24.2% in the third quarter. Assetmark Inc. now owns 67,332 shares of the shipping company's stock worth $6,638,000 after purchasing an additional 13,104 shares during the period. Institutional investors own 84.76% of the company's stock.
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.
Further Reading
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