Matson, Inc. (NYSE:MATX - Get Free Report) SVP Laura Rascon sold 2,800 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $188.53, for a total value of $527,884.00. Following the transaction, the senior vice president owned 15,656 shares in the company, valued at approximately $2,951,625.68. This trade represents a 15.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Matson Price Performance
Matson stock opened at $194.60 on Wednesday. Matson, Inc. has a one year low of $86.97 and a one year high of $197.63. The stock's fifty day moving average price is $177.77 and its two-hundred day moving average price is $155.03. 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 $5.89 billion, a PE ratio of 14.30 and a beta of 1.29.
Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. During the same quarter last year, the company posted $2.18 EPS. The company's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts expect that Matson, Inc. will post 13.96 EPS for the current fiscal year.
Matson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th were paid a $0.36 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.7%. Matson's dividend payout ratio (DPR) is presently 10.58%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Matson in a research note on Friday, May 29th. JPMorgan Chase & Co. assumed coverage on Matson in a research note on Monday, April 27th. They issued an "overweight" rating and a $230.00 price target on the stock. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, Zacks Research upgraded Matson to a "hold" rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Matson currently has a consensus 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
Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Matson by 12.6% during the 1st quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company's stock valued at $32,940,000 after acquiring an additional 22,516 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Matson by 24.0% during the 1st quarter. Edgestream Partners L.P. now owns 45,745 shares of the shipping company's stock valued at $7,499,000 after acquiring an additional 8,860 shares in the last quarter. Amundi boosted its holdings in shares of Matson by 26.4% during the 1st quarter. Amundi now owns 4,821 shares of the shipping company's stock valued at $790,000 after acquiring an additional 1,008 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Matson by 30.9% during the 1st quarter. California State Teachers Retirement System now owns 11,506 shares of the shipping company's stock valued at $1,886,000 after acquiring an additional 2,718 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Matson by 15.6% during the 1st quarter. Empowered Funds LLC now owns 22,840 shares of the shipping company's stock valued at $3,744,000 after acquiring an additional 3,090 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
About Matson
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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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