Key Points
- Matson SVP Grace Cerocke sold 1,200 shares on May 28 at an average price of $183.57, generating about $220,284 and trimming her stake by 6.25% to 17,986 shares.
- Matson shares were up 0.4% and opened at $181.42, near their 52-week high of $190.00, with the stock trading above both its 50-day and 200-day moving averages.
- The company beat quarterly EPS estimates with $1.85 per share versus $1.65 expected, while revenue came in at $757.8 million and was down 3.1% year over year; Matson also declared a $0.36 quarterly dividend.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Grace Cerocke sold 1,200 shares of Matson stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the transaction, the senior vice president directly owned 17,986 shares in the company, valued at approximately $3,301,690.02. The trade was a 6.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Matson Stock Up 0.4%
Shares of Matson stock opened at $181.42 on Friday. The firm's 50 day moving average price is $173.72 and its 200-day moving average price is $150.66. 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 $190.00. The company has a market cap of $5.49 billion, a P/E ratio of 13.33 and a beta of 1.30.
Matson (NYSE:MATX - Get Free Report) last issued 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. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the firm earned $2.18 EPS. The company's quarterly revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts predict that Matson, Inc. will post 13.96 EPS for the current fiscal year.
Matson Dividend Announcement
The company 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 presently 10.58%.
Wall Street Analyst Weigh In
Several research firms have weighed in on MATX. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Zacks Research upgraded shares of Matson to a "hold" rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Matson in a research note on Monday, April 27th. They set an "overweight" rating and a $230.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.25.
Get Our Latest Stock Analysis on Matson
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MATX. Federated Hermes Inc. increased its stake in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Matson in the 4th quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of Matson in the 2nd quarter valued at $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Matson in the 3rd quarter valued at $30,000. Finally, SouthState Bank Corp purchased a new stake in shares of Matson in the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.
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