Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox Sells 6,499 Shares

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 6,499 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares in the company, valued at $30,043,710.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Stock Up 0.5 %

Matson stock opened at $142.62 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. Matson, Inc. has a one year low of $82.68 and a one year high of $144.93. The company has a 50-day simple moving average of $132.59 and a 200-day simple moving average of $122.56. The firm has a market capitalization of $4.98 billion, a P/E ratio of 16.82 and a beta of 1.07.

Matson (NYSE:MATX) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.05 by $0.26. The firm had revenue of $847.40 million during the quarter, compared to analysts’ expectations of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.87%. As a group, equities analysts expect that Matson, Inc. will post 11.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MATX shares. Stephens increased their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Institutional Trading of Matson

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after purchasing an additional 215,452 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Matson by 3,509.3% during the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 183,676 shares in the last quarter. Millennium Management LLC grew its stake in Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after acquiring an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of Matson by 52.1% during the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after purchasing an additional 122,017 shares during the period. Finally, Norges Bank purchased a new position in Matson during the fourth quarter valued at approximately $10,295,000. Institutional investors own 84.76% of the company’s stock.

About 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.