Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan Sells 893 Shares

Matson, Inc. (NYSE:MATX) SVP John Warren Sullivan sold 893 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total transaction of $98,765.80. Following the completion of the sale, the senior vice president now owns 13,495 shares of the company’s stock, valued at approximately $1,492,547. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matson Price Performance

Shares of NYSE MATX traded up $2.39 on Thursday, hitting $114.22. The company’s stock had a trading volume of 304,264 shares, compared to its average volume of 264,773. The stock has a 50 day moving average of $108.76 and a 200-day moving average of $106.59. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.47 and a beta of 1.12. Matson, Inc. has a 12-month low of $64.21 and a 12-month high of $122.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. Matson’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, research analysts predict that Matson, Inc. will post 8.51 EPS for the current year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, May 8th. Matson’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of research reports. Stifel Nicolaus lifted their price target on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. StockNews.com cut Matson from a “buy” rating to a “hold” rating in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Matson in the fourth quarter valued at approximately $26,000. USA Financial Formulas purchased a new stake in Matson in the 4th quarter worth approximately $26,000. Security National Bank acquired a new position in Matson in the 4th quarter valued at $36,000. Blue Trust Inc. lifted its stake in shares of Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after purchasing an additional 217 shares during the period. Finally, Evermay Wealth Management LLC acquired a new stake in shares of Matson during the fourth quarter worth $66,000. 84.76% of the stock is currently owned by hedge funds and other 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.