Matson (NYSE:MATX) SVP Christopher Scott Sells 2,509 Shares

Key Points

• Matson SVP Christopher Scott sold 2,509 shares at an average price of $155 on March 11, reducing his ownership by 14.72 to 14,533 shares valued at about $2.25 million, per an SEC filing.
• The company reported quarterly EPS of $4.60, beating the $3.69 consensus and posting $851.9M in revenue (down 4.3% YoY), while analysts maintain an overall "Hold" consensus with a $156.25 average price target.
• Shares fell about 3.1% to $149.16 on heavier-than-average volume (552,132 vs. 316,107), and Matson recently paid a $0.36 quarterly dividend ($1.44 annualized, ~1.0% yield).

Matson, Inc. (NYSE:MATX - Get Free Report) SVP Christopher Scott sold 2,509 shares of Matson stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $155.00, for a total value of $388,895.00. Following the completion of the sale, the senior vice president directly owned 14,533 shares of the company's stock, valued at $2,252,615. The trade was a 14.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Matson Trading Down 3.1%

Matson stock traded down $4.78 during midday trading on Thursday, reaching $149.16. 552,132 shares of the stock traded hands, compared to its average volume of 316,107. The firm has a market cap of $4.54 billion, a PE ratio of 10.70 and a beta of 1.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a 50-day simple moving average of $154.31 and a two-hundred day simple moving average of $123.30. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.91. The business had revenue of $851.90 million for the quarter, compared to analysts' expectations of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.80 earnings per share. Research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.44 annualized dividend and a yield of 1.0%. Matson's dividend payout ratio is 10.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Matson in a research report on Monday, December 29th. Wall Street Zen raised Matson from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Stephens raised their price target on Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday, January 21st. Finally, Wolfe Research reissued an "outperform" rating and issued a $167.00 price objective on shares of Matson in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $156.25.

Institutional Investors Weigh In On Matson

Institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S acquired a new position in shares of Matson during the 4th quarter worth approximately $25,000. Federated Hermes Inc. raised its holdings in shares of Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock worth $25,000 after acquiring an additional 138 shares during the last quarter. SouthState Bank Corp purchased a new stake in shares of Matson in the fourth quarter valued at $31,000. Headlands Technologies LLC purchased a new stake in Matson during the 2nd quarter worth about $28,000. Finally, EverSource Wealth Advisors LLC raised its stake in Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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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