Matson, Inc. (MATX) To Go Ex-Dividend on November 5th

Matson, Inc. (NYSE:MATX) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Thursday, November 5th will be given a dividend of $0.38 per share by the shipping company on Thursday, December 3rd. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 5th.

Matson has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 13 years. Matson has a dividend payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Matson to earn $17.20 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 8.8%.

Matson Stock Performance

Shares of NYSE:MATX opened at $221.06 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson has a 12-month low of $97.63 and a 12-month high of $240.87. The firm has a market cap of $6.61 billion, a PE ratio of 15.30 and a beta of 1.30. The company’s 50 day moving average price is $227.83 and its two-hundred day moving average price is $192.94.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same quarter in the previous year, the firm earned $2.92 earnings per share. Matson’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities research analysts predict that Matson will post 16.01 earnings per share for the current year.

Insider Buying and Selling at Matson

In related news, EVP Vic S. Angoco, Jr. sold 2,293 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $222.76, for a total value of $510,788.68. Following the sale, the executive vice president owned 12,507 shares in the company, valued at approximately $2,786,059.32. This trade represents a 15.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kuuhaku T. Park sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total value of $208,490.00. Following the completion of the sale, the senior vice president directly owned 9,984 shares in the company, valued at approximately $2,081,564.16. The trade was a 9.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 12,462 shares of company stock worth $2,695,832. 2.51% of the stock is owned by corporate insiders.

Institutional Trading of Matson

A number of hedge funds have recently made changes to their positions in MATX. BlackRock Inc. purchased a new stake in Matson during the 2nd quarter valued at $952,903,000. Bank of New York Mellon Corp purchased a new position in shares of Matson during the 2nd quarter worth approximately $50,637,000. Caisse de depot et placement du Quebec bought a new position in Matson in the second quarter worth $45,796,000. Retirement Planning Group LLC increased its stake in shares of Matson by 12,239.4% in the 3rd quarter. Retirement Planning Group LLC now owns 233,584 shares of the shipping company’s stock worth $51,304,000 after acquiring an additional 231,691 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Matson by 12.6% during the first quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company’s stock valued at $32,940,000 after purchasing an additional 22,516 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

About Matson

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.