Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe Sells 3,000 Shares

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the sale, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Matson Stock Performance

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 company’s 50-day moving average is $140.82 and its 200 day moving average is $130.75. The firm has a market capitalization of $5.34 billion, a P/E ratio of 13.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson (NYSE:MATX) last issued its quarterly 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 during the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $3.40 EPS. Research analysts forecast that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MATX. Stephens upped their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently added to or reduced their stakes in MATX. PAX Financial Group LLC bought a new position in Matson during the 1st quarter worth about $605,000. Caxton Associates LP lifted its position in shares of Matson by 283.4% in the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock worth $925,000 after purchasing an additional 6,085 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Matson by 31.5% during the second quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock valued at $9,832,000 after purchasing an additional 17,992 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in 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 during the period. Finally, Magnetar Financial LLC bought a new position in Matson in the first quarter worth approximately $542,000. 84.76% of the stock is currently owned by institutional investors.

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.