Leonard P. Isotoff Sells 500 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX - Get Free Report) SVP Leonard P. Isotoff sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the transaction, the senior vice president now owns 5,644 shares in the company, valued at $629,136.68. This represents a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Matson Stock Down 1.1%

Matson stock traded down $1.21 on Monday, hitting $111.64. 385,590 shares of the stock traded hands, compared to its average volume of 431,990. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.64 billion, a P/E ratio of 9.29 and a beta of 1.30. The business's fifty day simple moving average is $109.62 and its 200 day simple moving average is $130.07. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). The firm had revenue of $782.00 million for the quarter, compared to analysts' expectations of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. As a group, sell-side analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's dividend payout ratio is currently 8.96%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stephens dropped their price target on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus dropped their price target on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group raised their price target on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $138.33.

Hedge Funds Weigh In On Matson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. Bessemer Group Inc. raised its position in shares of Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Matson in the 4th quarter worth about $30,000. Ameriflex Group Inc. purchased a new position in shares of Matson in the 4th quarter worth about $36,000. Brooklyn Investment Group purchased a new position in shares of Matson in the 1st quarter worth about $34,000. Finally, IFP Advisors Inc purchased a new position in shares of Matson in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

About Matson

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.