Matson, Inc. (NYSE:MATX - Get Free Report) SVP Jennifer Tungul sold 402 shares of Matson stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total transaction of $83,812.98. Following the completion of the transaction, the senior vice president directly owned 5,852 shares in the company, valued at $1,220,083.48. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Matson Price Performance
MATX traded up $10.00 during trading on Wednesday, hitting $214.41. 239,233 shares of the stock traded hands, compared to its average volume of 292,274. The business has a 50 day moving average price of $202.49 and a 200 day moving average price of $180.52. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 14.33 and a beta of 1.27.
Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The firm had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. During the same quarter last year, the business posted $2.92 EPS. The company's revenue was up 16.7% compared to the same quarter last year. Equities research analysts forecast that Matson, Inc. will post 16.01 earnings per share for the current fiscal 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. This represents a $1.52 annualized dividend and a yield of 0.7%. This is a boost from Matson's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. Matson's payout ratio is 10.16%.
Analyst Ratings Changes
Several brokerages have commented on MATX. Zacks Research raised Matson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Matson from a "hold" rating to a "buy" rating in a research note on Saturday. Stephens lifted their price target on shares of Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $232.33.
Check Out Our Latest Analysis on Matson
Hedge Funds Weigh In On Matson
Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Matson in the fourth quarter valued at $17,276,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Matson during the 4th quarter worth about $2,017,000. SG Americas Securities LLC lifted its holdings in Matson by 887.1% during the 1st quarter. SG Americas Securities LLC now owns 57,586 shares of the shipping company's stock worth $9,441,000 after buying an additional 51,752 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of Matson in the 1st quarter valued at about $32,761,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Matson in the 1st quarter valued at about $1,712,000. 84.76% of the stock is currently owned by institutional investors.
About Matson
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Matson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Matson wasn't on the list.
While Matson currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
