Laura Rascon Sells 2,800 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the completion of the sale, the senior vice president directly owned 15,656 shares of the company’s stock, valued at approximately $2,951,625.68. The trade was a 15.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Matson Stock Up 1.2%

Shares of NYSE MATX traded up $2.38 during trading hours on Tuesday, hitting $194.60. The stock had a trading volume of 331,625 shares, compared to its average volume of 278,146. The company has a market capitalization of $5.89 billion, a P/E ratio of 14.30 and a beta of 1.29. The firm’s 50-day moving average price is $177.04 and its two-hundred day moving average price is $154.39. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $197.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. Analysts anticipate that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.7%. Matson’s dividend payout ratio (DPR) is 10.58%.

Analyst Ratings Changes

MATX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Institutional Trading of Matson

Several large investors have recently made changes to their positions in MATX. Federated Hermes Inc. grew its holdings in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Danske Bank A S bought a new position in Matson in the fourth quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Matson in the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new position in Matson in the third quarter valued at about $30,000. Finally, SouthState Bank Corp acquired a new position in shares of Matson during the 4th quarter worth about $31,000. Institutional investors own 84.76% of the company’s stock.

About Matson

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.