Insider Selling: Matson, Inc. (NYSE:MATX) SVP Sells 1,997 Shares of Stock

Matson, Inc. (NYSE:MATX - Get Free Report) SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. The trade was a 19.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Matson Trading Down 0.2 %

NYSE MATX traded down $0.22 during trading on Friday, hitting $133.02. The stock had a trading volume of 383,471 shares, compared to its average volume of 293,043. Matson, Inc. has a one year low of $100.50 and a one year high of $169.12. The stock has a 50 day simple moving average of $139.50 and a 200 day simple moving average of $141.44. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 11.07 and a beta of 1.05. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million during the quarter, compared to analysts' expectations of $851.78 million. Sell-side analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

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Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.02%. Matson's payout ratio is 9.69%.

Wall Street Analyst Weigh In

MATX has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Matson from $150.00 to $160.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. Wolfe Research lowered Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th. Finally, Stephens lifted their price objective on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On Matson

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its holdings in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Matson in the 4th quarter worth $30,000. Ameriflex Group Inc. bought a new position in shares of Matson during the 4th quarter worth $36,000. IFP Advisors Inc bought a new position in shares of Matson during the 4th quarter worth $40,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Matson during the third quarter valued at $50,000. 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.