Matson Inc. (MATX) Director Michael J. Chun Sells 1,000 Shares
Matson Inc. (NYSE:MATX) Director Michael J. Chun sold 1,000 shares of the stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $38.66, for a total transaction of $38,660.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Matson Inc. (NYSE:MATX) traded down 2.08% on Tuesday, reaching $38.18. 171,645 shares of the company’s stock traded hands. Matson Inc. has a 12 month low of $28.79 and a 12 month high of $52.58. The company has a market cap of $1.64 billion, a PE ratio of 19.08 and a beta of 1.18. The firm’s 50 day moving average price is $39.15 and its 200 day moving average price is $36.64.
Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.12. Matson had a return on equity of 20.49% and a net margin of 4.57%. The company earned $500.40 million during the quarter, compared to analyst estimates of $481.78 million. During the same period last year, the company posted $0.94 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. On average, equities analysts expect that Matson Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, November 8th. Matson’s dividend payout ratio is presently 38.00%.
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MATX has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and set a $46.00 price objective on shares of Matson in a report on Monday, October 10th. Zacks Investment Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 4th.
A number of large investors have recently modified their holdings of MATX. SG Americas Securities LLC acquired a new stake in shares of Matson during the second quarter worth about $478,000. Emerald Acquisition Ltd. acquired a new stake in shares of Matson during the second quarter worth about $1,097,000. Societe Generale acquired a new stake in shares of Matson during the second quarter worth about $478,000. Bank of Hawaii boosted its stake in shares of Matson by 9.4% in the second quarter. Bank of Hawaii now owns 106,401 shares of the company’s stock worth $3,435,000 after buying an additional 9,151 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Matson during the second quarter worth about $127,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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