Grace Cerocke Sells 1,200 Shares of Matson (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) SVP Grace Cerocke sold 1,200 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the transaction, the senior vice president directly owned 17,986 shares in the company, valued at approximately $3,301,690.02. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matson Stock Performance

NYSE:MATX opened at $181.42 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $190.00. The stock has a market cap of $5.49 billion, a PE ratio of 13.33 and a beta of 1.30. The firm’s fifty day simple moving average is $173.72 and its 200-day simple moving average is $150.66.

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

Matson Dividend Announcement

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

Institutional Investors Weigh In On Matson

Large investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new stake in shares of Matson during the 4th quarter worth about $25,000. Federated Hermes Inc. boosted its stake in shares of Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. SouthState Bank Corp acquired a new stake in shares of Matson during the 4th quarter worth about $31,000. Headlands Technologies LLC acquired a new stake in shares of Matson during the 2nd quarter worth about $28,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Matson by 57.3% during 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. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MATX has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective on the stock. Zacks Research raised 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.