Laura Rascon Sells 540 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Laura Rascon sold 540 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total transaction of $97,648.20. Following the sale, the senior vice president owned 18,456 shares in the company, valued at $3,337,398.48. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Matson Stock Performance

Shares of MATX stock traded down $3.11 during trading on Friday, reaching $179.14. 87,712 shares of the company’s stock traded hands, compared to its average volume of 284,524. The company has a market capitalization of $5.42 billion, a P/E ratio of 13.16 and a beta of 1.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $167.62 and its 200 day moving average is $144.74. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $189.99.

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

Matson Dividend Announcement

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

Institutional Trading of Matson

Several institutional investors and hedge funds have recently bought and sold shares of MATX. Millennium Management LLC lifted its stake in Matson by 144.9% in the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Matson in the 3rd quarter worth approximately $26,415,000. Norges Bank purchased a new stake in Matson in the 4th quarter worth approximately $17,276,000. Ameriprise Financial Inc. lifted its stake in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Matson in the 3rd quarter worth approximately $9,503,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MATX has been the topic of a number of recent research reports. Stephens upped 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 shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Zacks Research upgraded shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.25.

About Matson

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.