Insider Selling: Matson, Inc. (NYSE:MATX) SVP Sells $96,072.72 in Stock

Matson, Inc. (NYSE:MATX) SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the transaction, the senior vice president now owns 12,369 shares of the company’s stock, valued at approximately $1,597,208.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Matson Trading Down 0.4 %

Shares of NYSE MATX opened at $129.19 on Friday. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $136.31. The firm has a market cap of $4.51 billion, a PE ratio of 15.23 and a beta of 1.09. The business has a fifty day simple moving average of $126.95 and a two-hundred day simple moving average of $117.55. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 1st will be issued a $0.34 dividend. This is an increase from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 1st. Matson’s payout ratio is presently 16.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MATX. Vanguard Group Inc. raised its holdings in shares of Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after purchasing an additional 215,452 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Matson by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock valued at $291,386,000 after buying an additional 43,846 shares during the period. American Century Companies Inc. raised its stake in Matson by 4.2% in the second quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock worth $119,422,000 after buying an additional 36,901 shares in the last quarter. First Trust Advisors LP lifted its holdings in Matson by 25.5% during the fourth quarter. First Trust Advisors LP now owns 293,163 shares of the shipping company’s stock worth $32,131,000 after buying an additional 59,652 shares during the period. Finally, LSV Asset Management boosted its position in Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock valued at $31,783,000 after acquiring an additional 43,324 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MATX shares. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Stephens raised their price target on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st.

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.