Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff Sells 492 Shares of Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the sale, the senior vice president now directly owns 4,254 shares in the company, valued at $686,000.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Matson Stock Up 4.3 %

MATX opened at $166.03 on Thursday. The company has a market cap of $5.51 billion, a PE ratio of 13.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 1 year low of $89.08 and a 1 year high of $166.05. The firm has a 50 day moving average price of $137.31 and a 200 day moving average price of $128.54.

Matson (NYSE:MATX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.40 EPS. Sell-side analysts expect that Matson, Inc. will post 12.11 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, November 7th. Matson’s payout ratio is 11.31%.

Institutional Investors Weigh In On Matson

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after acquiring an additional 215,452 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Matson by 3,509.3% during the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock valued at $21,233,000 after purchasing an additional 183,676 shares during the period. Millennium Management LLC lifted its position in shares of Matson by 126.5% during the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after purchasing an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Matson by 52.1% in the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock valued at $46,680,000 after purchasing an additional 122,017 shares during the period. Finally, Forest Avenue Capital Management LP grew its holdings in Matson by 50.2% during the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock valued at $30,445,000 after purchasing an additional 77,731 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.