Matson, Inc. (NYSE:MATX) Announces $0.34 Quarterly Dividend

Matson, Inc. (NYSE:MATX) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.34 per share by the shipping company on Thursday, December 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 7th.

Matson has raised its dividend by an average of 11.9% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Matson has a dividend payout ratio of 14.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matson to earn $9.11 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 14.9%.

Matson Trading Down 0.0 %

Shares of NYSE:MATX traded down $0.04 during trading on Friday, reaching $133.31. 117,800 shares of the stock were exchanged, compared to its average volume of 272,645. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. Matson has a 12-month low of $82.68 and a 12-month high of $144.93. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 15.78 and a beta of 1.07. The firm’s 50-day moving average price is $135.01 and its 200 day moving average price is $126.02.

Matson (NYSE:MATX) last issued its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The business had revenue of $847.40 million during the quarter, compared to analysts’ expectations of $861.68 million. On average, sell-side analysts anticipate that Matson will post 11.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Matson news, CEO Matthew J. Cox sold 6,499 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $143.82, for a total value of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares in the company, valued at $30,043,710.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Matthew J. Cox sold 6,499 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares of the company’s stock, valued at approximately $30,043,710.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Laura L. Rascon sold 744 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the sale, the senior vice president now directly owns 12,369 shares in the company, valued at approximately $1,597,208.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,736 shares of company stock worth $6,672,494 in the last 90 days. 2.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.