Laura Rascon Sells 2,800 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 2,800 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the completion of the transaction, the senior vice president directly owned 15,656 shares of the company’s stock, valued at $2,951,625.68. This represents a 15.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matson Trading Down 0.2%

Shares of MATX opened at $193.93 on Thursday. The company has a market capitalization of $5.87 billion, a P/E ratio of 14.25 and a beta of 1.29. Matson, Inc. has a one year low of $86.97 and a one year high of $197.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day moving average price of $178.51 and a 200 day moving average price of $155.68.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.Matson’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 earnings per share. Sell-side analysts forecast that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.7%. Matson’s dividend payout ratio is currently 10.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on MATX. JPMorgan Chase & Co. began coverage on Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective on the stock. Zacks Research upgraded Matson to a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.

Institutional Trading of Matson

A number of institutional investors and hedge funds have recently made changes to their positions in MATX. Royal Bank of Canada raised its position in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after purchasing an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Matson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after purchasing an additional 863 shares during the period. Millennium Management LLC raised its position in shares of Matson by 7.1% during the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after purchasing an additional 6,778 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Matson during the 1st quarter worth approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Matson by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock worth $3,135,000 after purchasing an additional 2,492 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About Matson

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.