Rusty K. Rolfe Sells 3,000 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Matson Trading Down 2.4 %

Shares of NYSE MATX opened at $160.65 on Friday. The company has a market cap of $5.34 billion, a PE ratio of 13.37 and a beta of 1.06. The firm’s 50 day moving average price is $140.82 and its 200-day moving average price is $130.75. Matson, Inc. has a 52-week low of $91.98 and a 52-week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $3.40 earnings per share. On average, equities research analysts expect that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is 11.31%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MATX shares. Stephens upped their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Hedge Funds Weigh In On Matson

A number of hedge funds and other institutional investors have recently modified their holdings of MATX. TruNorth Capital Management LLC bought a new position in shares of Matson during the 2nd quarter valued at about $27,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Matson in the second quarter worth about $34,000. International Assets Investment Management LLC bought a new position in Matson during the second quarter valued at approximately $39,000. Harbor Capital Advisors Inc. bought a new position in Matson during the third quarter valued at approximately $50,000. Finally, Blue Trust Inc. increased its stake in Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after acquiring an additional 413 shares during the last quarter. 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.