Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe Sells 3,000 Shares

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now directly owns 21,871 shares in the company, valued at approximately $3,629,929.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Matson Stock Down 1.1 %

Shares of NYSE MATX traded down $1.78 during midday trading on Thursday, hitting $165.59. 54,204 shares of the stock traded hands, compared to its average volume of 274,797. The company has a market cap of $5.50 billion, a PE ratio of 13.92 and a beta of 1.06. Matson, Inc. has a one year low of $91.98 and a one year high of $169.12. The business has a 50 day moving average price of $140.15 and a two-hundred day moving average price of $130.51. 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 (NYSE:MATX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.40 EPS. On average, equities analysts predict that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.82%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MATX shares. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens boosted their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

Hedge Funds Weigh In On Matson

Institutional investors have recently modified their holdings of the company. PAX Financial Group LLC bought a new position in Matson during the 1st quarter worth approximately $605,000. Caxton Associates LP lifted its stake in shares of Matson by 283.4% in the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock valued at $925,000 after purchasing an additional 6,085 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Matson by 31.5% in the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock valued at $9,832,000 after purchasing an additional 17,992 shares during the period. Jupiter Asset Management Ltd. raised its stake in 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 buying an additional 183,676 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in Matson during the first quarter valued at $542,000. 84.76% of the stock is currently owned by institutional investors.

Matson Company Profile

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.