Peter T. Heilmann Sells 5,404 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) EVP Peter T. Heilmann sold 5,404 shares of Matson stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the sale, the executive vice president now directly owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Matson Price Performance

MATX stock traded up $6.80 during midday trading on Wednesday, reaching $166.03. 556,831 shares of the company’s stock traded hands, compared to its average volume of 276,089. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 13.25 and a beta of 1.06. The company has a 50-day simple moving average of $136.73 and a two-hundred day simple moving average of $128.27. Matson, Inc. has a 1-year low of $89.08 and a 1-year high of $166.05.

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 analysts’ consensus estimates of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. During the same period in the prior year, the business earned $3.40 earnings per share. Matson’s quarterly revenue was up 16.3% on a year-over-year basis. On average, analysts anticipate that Matson, Inc. will post 12.11 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.82%. Matson’s payout ratio is presently 11.31%.

Institutional Investors Weigh In On Matson

A number of institutional investors and hedge funds have recently modified their holdings of the business. Natixis Advisors LLC boosted its position in shares of Matson by 0.5% in the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock worth $2,313,000 after purchasing an additional 78 shares during the last quarter. Aigen Investment Management LP boosted its holdings in Matson by 15.7% during the third quarter. Aigen Investment Management LP now owns 6,342 shares of the shipping company’s stock worth $904,000 after buying an additional 860 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Matson by 16.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,787 shares of the shipping company’s stock valued at $397,000 after acquiring an additional 391 shares during the period. Assetmark Inc. grew its holdings in Matson by 13.1% during the third quarter. Assetmark Inc. now owns 47,868 shares of the shipping company’s stock valued at $6,827,000 after purchasing an additional 5,536 shares during the period. Finally, Summit Global Investments raised its holdings in Matson by 78.0% in the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock worth $1,487,000 after purchasing an additional 4,567 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research 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.