Matson, Inc. (NYSE:MATX - Get Free Report) EVP Vic Angoco, Jr. sold 2,293 shares of Matson stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $222.76, for a total value of $510,788.68. Following the completion of the transaction, the executive vice president directly owned 12,507 shares in the company, valued at $2,786,059.32. This represents a 15.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Matson Stock Performance
Matson stock opened at $223.13 on Tuesday. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $230.74. The firm's 50 day simple moving average is $207.03 and its 200-day simple moving average is $184.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $6.67 billion, a P/E ratio of 14.92 and a beta of 1.27.
Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The firm had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. During the same quarter last year, the business posted $2.92 EPS. The company's revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts predict that Matson, Inc. will post 16.01 EPS for the current year.
Matson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a $0.38 dividend. The ex-dividend date is Thursday, August 6th. This is a boost from Matson's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Matson's dividend payout ratio is 10.16%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on MATX shares. Weiss Ratings raised shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on Matson from $230.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a research note on Saturday. Stephens lifted their target price on Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Finally, Zacks Research raised Matson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $232.33.
View Our Latest Stock Report on MATX
Institutional Investors Weigh In On Matson
Several institutional investors have recently modified their holdings of MATX. BlackRock Inc. bought a new stake in shares of Matson during the second quarter worth approximately $952,903,000. Vanguard Group Inc. boosted its stake in Matson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company's stock valued at $453,616,000 after acquiring an additional 21,516 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company's stock valued at $244,975,000 after acquiring an additional 21,463 shares during the last quarter. California State Teachers Retirement System grew its holdings in Matson by 14,734.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,706,810 shares of the shipping company's stock worth $328,100,000 after acquiring an additional 1,695,304 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Matson by 27.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company's stock worth $65,770,000 after acquiring an additional 128,994 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.
Matson Company Profile
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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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