Key Points
- Matson SVP Christopher Scott sold 1,520 shares on May 20 at an average price of $181.05, for proceeds of about $275,196. After the sale, he still held 9,708 shares, reducing his ownership by 13.54%.
- Matson recently beat earnings expectations, reporting $1.85 EPS for the quarter versus the $1.65 consensus estimate, though revenue of $757.8 million came in below forecasts and fell 3.1% year over year.
- The company continues to return cash to shareholders with a quarterly dividend of $0.36 per share, or $1.44 annualized, yielding about 0.8%.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Christopher Scott sold 1,520 shares of Matson stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total transaction of $275,196.00. Following the sale, the senior vice president owned 9,708 shares of the company's stock, valued at approximately $1,757,633.40. This trade represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Matson Stock Performance
NYSE:MATX opened at $182.47 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $5.52 billion, a PE ratio of 13.41 and a beta of 1.30. The firm has a 50 day simple moving average of $170.13 and a 200-day simple moving average of $147.71. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $190.00.
Matson (NYSE:MATX - Get Free Report) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The firm had revenue of $757.80 million during the quarter, compared to analysts' expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. Matson's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. On average, equities analysts expect that Matson, Inc. will post 13.96 EPS for the current year.
Matson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Matson's payout ratio is currently 10.58%.
Analyst Ratings Changes
A number of analysts have issued reports on MATX shares. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. began coverage on shares of Matson in a report on Monday, April 27th. They set an "overweight" rating and a $230.00 price objective on the stock. Finally, Zacks Research upgraded shares of Matson to a "hold" rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $181.25.
Check Out Our Latest Analysis on MATX
Hedge Funds Weigh In On Matson
A number of large investors have recently modified their holdings of MATX. EverSource Wealth Advisors LLC grew its holdings in shares of Matson by 57.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock worth $32,000 after purchasing an additional 94 shares during the period. Bessemer Group Inc. raised its holdings in Matson by 0.3% in the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company's stock valued at $5,021,000 after buying an additional 104 shares during the period. The Manufacturers Life Insurance Company grew its stake in Matson by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company's stock worth $2,418,000 after buying an additional 107 shares during the period. Linden Thomas Advisory Services LLC increased its position in shares of Matson by 0.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company's stock worth $3,639,000 after acquiring an additional 109 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in shares of Matson by 3.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company's stock valued at $354,000 after acquiring an additional 116 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
About Matson
(
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.
See Also
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. Please send any questions or comments about this story to [email protected].
