Insider Selling: Matson, Inc. (NYSE:MATX) EVP Sells $497,910.00 in Stock

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matson Trading Down 2.4 %

Matson stock opened at $160.65 on Friday. Matson, Inc. has a 1 year low of $91.98 and a 1 year high of $169.12. The firm’s 50-day moving average is $141.52 and its 200-day moving average is $131.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $5.34 billion, a P/E ratio of 13.37 and a beta of 1.06.

Matson (NYSE:MATX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. Matson’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company posted $3.40 earnings per share. On average, equities analysts expect that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.85%. Matson’s payout ratio is currently 11.31%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens lifted their price target on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Institutional Investors Weigh In On Matson

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in shares of Matson by 4,167,726.1% during the third quarter. Pacer Advisors Inc. now owns 958,600 shares of the shipping company’s stock worth $136,716,000 after buying an additional 958,577 shares during the period. Vanguard Group Inc. boosted its position in Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after acquiring an additional 215,452 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Matson by 3,509.3% in the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock worth $21,233,000 after purchasing an additional 183,676 shares in the last quarter. Millennium Management LLC raised its stake in shares of Matson by 126.5% during the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after purchasing an additional 134,092 shares in the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in Matson by 52.1% in 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. 84.76% of the stock is owned by institutional investors and hedge funds.

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.