Matson (NYSE:MATX) insider Vic S. Angoco, Jr. sold 3,558 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $33.25, for a total value of $118,303.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
MATX traded down $0.01 on Thursday, hitting $33.66. 3,314 shares of the company were exchanged, compared to its average volume of 254,754. Matson has a 12 month low of $33.32 and a 12 month high of $33.53. The firm has a market capitalization of $1.42 billion, a PE ratio of 18.98, a PEG ratio of 3.03 and a beta of 1.44. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.98 and a current ratio of 0.98.
Matson (NYSE:MATX) last released its earnings results on Tuesday, May 1st. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.10. Matson had a return on equity of 14.30% and a net margin of 11.48%. The business had revenue of $511.40 million for the quarter, compared to analyst estimates of $463.48 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Matson’s revenue was up 7.8% on a year-over-year basis. research analysts forecast that Matson will post 2.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Thursday, May 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.80 annualized dividend and a yield of 2.38%. Matson’s payout ratio is presently 44.94%.
A number of brokerages have recently commented on MATX. Oppenheimer restated a “buy” rating on shares of Matson in a report on Tuesday, May 8th. Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Stephens set a $33.00 target price on Matson and gave the stock a “hold” rating in a report on Monday, April 9th. TheStreet lowered Matson from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Finally, Wells Fargo upgraded Matson from an “underperform” rating to a “market perform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.50.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in Matson by 2.4% during the first quarter. Legal & General Group Plc now owns 78,909 shares of the shipping company’s stock worth $2,247,000 after acquiring an additional 1,831 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Matson during the first quarter worth about $350,000. Tensile Capital Management LLC raised its holdings in Matson by 108.9% during the first quarter. Tensile Capital Management LLC now owns 323,221 shares of the shipping company’s stock worth $9,257,000 after acquiring an additional 168,475 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Matson by 35.6% during the first quarter. Cubist Systematic Strategies LLC now owns 9,855 shares of the shipping company’s stock worth $282,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Matson during the first quarter worth approximately $1,037,000. Institutional investors and hedge funds own 83.55% of the company’s stock.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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