Matson, Inc. (NYSE:MATX - Get Free Report) SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Matson stock traded down $4.49 during trading on Thursday, reaching $133.08. The stock had a trading volume of 425,390 shares, compared to its average volume of 290,942. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12. The business has a 50 day moving average price of $139.57 and a 200 day moving average price of $141.38. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.42 billion, a PE ratio of 11.07 and a beta of 1.05.
Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. On average, analysts predict that Matson, Inc. will post 13.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.02%. Matson's payout ratio is currently 9.69%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MATX. Bessemer Group Inc. raised its holdings in Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Matson during the fourth quarter worth approximately $30,000. Ameriflex Group Inc. acquired a new stake in Matson during the fourth quarter worth approximately $36,000. IFP Advisors Inc acquired a new stake in Matson during the fourth quarter worth approximately $40,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Matson during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 84.76% of the company's stock.
MATX has been the subject of several recent research reports. Wolfe Research lowered shares of Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Stifel Nicolaus lifted their price target on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. Finally, Stephens lifted their price target 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.
Get Our Latest Stock Report on Matson
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.
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