Insider Selling: Matson (NYSE:MATX) SVP Sells $208,490.00 in Stock

Matson, Inc. (NYSE:MATX) SVP Kuuhaku Park sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $208,490.00. Following the completion of the sale, the senior vice president owned 9,984 shares of the company’s stock, valued at $2,081,564.16. The trade was a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matson Stock Performance

NYSE:MATX traded up $10.00 during midday trading on Wednesday, reaching $214.41. The stock had a trading volume of 239,233 shares, compared to its average volume of 292,274. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $230.74. The firm’s fifty day simple moving average is $202.49 and its 200-day simple moving average is $180.52. 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 stock has a market capitalization of $6.41 billion, a P/E ratio of 14.33 and a beta of 1.27.

Matson (NYSE:MATX) last released its earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share 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 in the previous year, the business earned $2.92 EPS. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. Matson’s payout ratio is presently 10.16%.

Analysts Set New Price Targets

A number of analysts have issued reports on MATX shares. Stephens raised their target price on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Wall Street Zen raised Matson from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Matson from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Matson currently has an average rating of “Buy” and an average price target of $232.33.

Institutional Investors Weigh In On Matson

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted 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 buying an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock valued at $2,501,000 after acquiring an additional 863 shares during the period. Millennium Management LLC raised its stake in Matson by 7.1% during the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after acquiring an additional 6,778 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Matson during the first quarter worth $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after acquiring an additional 2,492 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

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.