Joel M. Wine Sells 12,090 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) CFO Joel M. Wine sold 12,090 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $129.73, for a total value of $1,568,435.70. Following the transaction, the chief financial officer now owns 139,239 shares in the company, valued at $18,063,475.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matson Price Performance

Shares of MATX opened at $130.64 on Friday. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 15.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson, Inc. has a one year low of $74.04 and a one year high of $133.53. The stock’s fifty day moving average is $120.20 and its 200-day moving average is $114.61.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. Matson’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Equities analysts anticipate that Matson, Inc. will post 10.1 EPS for the current year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 1st will be issued a dividend of $0.34 per share. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 1st. Matson’s payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MATX shares. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday. Stephens restated an “overweight” rating and set a $135.00 price objective on shares of Matson in a research note on Friday, May 24th. Finally, Stifel Nicolaus raised their price objective on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its stake in Matson by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after purchasing an additional 108 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its stake in Matson by 5.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after purchasing an additional 114 shares in the last quarter. U S Global Investors Inc. increased its stake in Matson by 13.4% in the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Matson by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,862 shares of the shipping company’s stock worth $862,000 after purchasing an additional 128 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC increased its stake in Matson by 6.4% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after purchasing an additional 140 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.