Matson (NYSE:MATX) EVP Peter Heilmann Sells 5,000 Shares of Stock

Key Points

• Insider sale: Matson EVP Peter Heilmann sold 5,000 shares for approximately $1.10 million, reducing his direct ownership by 19.6% to 20,506 shares.
• Strong quarterly performance: Matson reported quarterly EPS of $4.27, beating estimates by $0.48, while revenue rose 16.7% year over year to $969.4 million.
• Positive investor outlook: Matson raised its quarterly dividend to $0.38, and analysts maintain a consensus “Buy” rating with an average price target of $232.33.

Matson, Inc. (NYSE:MATX - Get Free Report) EVP Peter Heilmann sold 5,000 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.15, for a total value of $1,100,750.00. Following the sale, the executive vice president directly owned 20,506 shares in the company, valued at $4,514,395.90. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Matson Trading Down 0.7%

Shares of MATX stock traded down $1.47 during trading hours on Thursday, reaching $216.79. 192,083 shares of the stock traded hands, compared to its average volume of 288,875. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $230.74. The business has a fifty day moving average price of $205.70 and a 200 day moving average price of $182.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.48 billion, a PE ratio of 14.49 and a beta of 1.27.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same quarter in the prior year, the firm earned $2.92 EPS. The firm's quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 annualized dividend and a yield of 0.7%. This is an increase from Matson's previous quarterly dividend of $0.36. Matson's dividend payout ratio (DPR) is currently 10.16%.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of Matson from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Matson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Finally, Stephens lifted their target price on shares of Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, Matson currently has an average rating of "Buy" and a consensus price target of $232.33.

Institutional Investors Weigh In On Matson

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Matson in the second quarter worth approximately $952,903,000. Vanguard Group Inc. lifted its stake in Matson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company's stock valued at $453,616,000 after acquiring an additional 21,516 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company's stock worth $244,975,000 after acquiring an additional 21,463 shares in the last quarter. Ameriprise Financial Inc. grew its position in Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company's stock worth $65,770,000 after acquiring an additional 128,994 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Matson by 144.9% during 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 during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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