Leonard P. Isotoff Sells 2,800 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Leonard P. Isotoff sold 2,800 shares of Matson stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the transaction, the senior vice president now owns 4,746 shares of the company’s stock, valued at approximately $533,830.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Matson Trading Up 0.3 %

MATX traded up $0.34 during trading hours on Tuesday, reaching $112.03. The company’s stock had a trading volume of 230,195 shares, compared to its average volume of 264,947. Matson, Inc. has a fifty-two week low of $64.21 and a fifty-two week high of $122.99. The stock has a market cap of $3.83 billion, a PE ratio of 13.27 and a beta of 1.12. The business’s 50-day moving average is $108.69 and its 200-day moving average is $106.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The firm had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $730.44 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that Matson, Inc. will post 8.51 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio is presently 15.09%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Matson during the first quarter worth $182,000. LSV Asset Management lifted its stake in Matson by 18.1% during the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after purchasing an additional 43,324 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Matson by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 30,575 shares of the shipping company’s stock worth $3,437,000 after purchasing an additional 410 shares in the last quarter. Choreo LLC acquired a new position in Matson during the first quarter worth $202,000. Finally, BNP Paribas Financial Markets lifted its stake in Matson by 35.8% during the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock worth $2,172,000 after purchasing an additional 5,095 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MATX. Stifel Nicolaus boosted 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. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.

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.