Matson (NYSE:MATX) SVP Sells $339,580.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $169.79, for a total value of $339,580.00. Following the transaction, the senior vice president directly owned 13,484 shares in the company, valued at $2,289,448.36. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Matson Stock Performance

Shares of Matson stock traded down $1.29 during midday trading on Wednesday, hitting $167.24. The company had a trading volume of 250,014 shares, compared to its average volume of 305,667. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 12.00 and a beta of 1.32. The company has a fifty day simple moving average of $150.39 and a 200 day simple moving average of $121.20.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 EPS for the quarter, topping the consensus estimate of $3.69 by $0.91. The business had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.80 earnings per share. As a group, analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, February 5th. Matson’s payout ratio is presently 10.33%.

Hedge Funds Weigh In On Matson

A number of institutional investors and hedge funds have recently modified their holdings of MATX. Federated Hermes Inc. boosted its position in shares of Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Danske Bank A S acquired a new position in shares of Matson in the 4th quarter valued at $25,000. Hantz Financial Services Inc. increased its stake in Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 102 shares during the period. Headlands Technologies LLC purchased a new stake in Matson during the 2nd quarter valued at approximately $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson during the third quarter worth $30,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MATX. Wolfe Research restated an “outperform” rating and set a $167.00 target price on shares of Matson in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Finally, Stephens upped their price objective on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.25.

Matson Company Profile

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.