Peter Heilmann Sells 7,173 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Peter Heilmann sold 7,173 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the completion of the transaction, the executive vice president directly owned 25,506 shares of the company’s stock, valued at $4,595,926.14. This trade represents a 21.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Matson Price Performance

Shares of MATX traded down $0.64 during mid-day trading on Thursday, reaching $181.08. The company had a trading volume of 54,798 shares, compared to its average volume of 285,414. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $5.48 billion, a P/E ratio of 13.28 and a beta of 1.30. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $189.99. The company’s 50-day moving average is $167.35 and its 200-day moving average is $144.11.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 earnings per share. On average, equities analysts anticipate that Matson, Inc. will post 13.96 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson’s payout ratio is currently 10.58%.

Wall Street Analyst Weigh In

MATX has been the subject of a number of research analyst reports. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Stephens increased their price target on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. initiated coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective on the stock. Finally, Zacks Research raised Matson to a “hold” rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Institutional Trading of Matson

Several institutional investors and hedge funds have recently made changes to their positions in MATX. EverSource Wealth Advisors LLC boosted its position in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Bessemer Group Inc. lifted its stake in Matson by 0.3% in the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after buying an additional 104 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in Matson by 0.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock worth $3,639,000 after buying an additional 109 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Matson by 3.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company’s stock worth $354,000 after buying an additional 116 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.