Key Points
- Matson SVP Laura Rascon sold 540 shares on May 14 at an average price of $180.83, cutting her stake by 2.84% in a transaction valued at about $97,648.
- Matson reported better-than-expected quarterly earnings of $1.85 per share, beating analysts’ forecast, though revenue came in below consensus and was down 3.1% year over year.
- The company announced a quarterly dividend of $0.36 per share, payable June 4, implying an annualized dividend of $1.44 and a yield of 0.8%.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Laura Rascon sold 540 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $180.83, for a total value of $97,648.20. Following the transaction, the senior vice president owned 18,456 shares in the company, valued at $3,337,398.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Matson Trading Down 1.5%
MATX opened at $179.56 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $189.99. The stock has a market cap of $5.43 billion, a PE ratio of 13.19 and a beta of 1.30. The business has a 50 day moving average of $167.87 and a 200-day moving average of $144.98.
Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm's quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 earnings per share. Equities research analysts predict that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.
Matson Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson's dividend payout ratio (DPR) is presently 10.58%.
Hedge Funds Weigh In On Matson
Hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL boosted its stake in shares of Matson by 2,944.7% in the third 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 bought a new position in shares of Matson during the 3rd quarter valued at approximately $740,000. American Century Companies Inc. grew its stake in shares of Matson by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company's stock worth $123,300,000 after buying an additional 35,229 shares in the last quarter. Citigroup Inc. grew its position in Matson by 49.3% in the third quarter. Citigroup Inc. now owns 50,580 shares of the shipping company's stock worth $4,987,000 after acquiring an additional 16,712 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Matson by 24.2% during the 3rd quarter. Assetmark Inc. now owns 67,332 shares of the shipping company's stock valued at $6,638,000 after purchasing an additional 13,104 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MATX has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They set an "overweight" rating and a $230.00 price objective on the stock. Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Zacks Research upgraded shares of Matson to a "hold" rating in a report on Wednesday, April 29th. Finally, Stephens lifted their price objective 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $181.25.
Get Our Latest Stock Analysis on MATX
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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