Matson, Inc. (NYSE:MATX) Director W Blake Baird sold 2,578 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total value of $77,288.44. Following the completion of the transaction, the director now directly owns 15,583 shares in the company, valued at $467,178.34. The transaction was disclosed in a filing with the SEC, which is available at this link.
W Blake Baird also recently made the following trade(s):
- On Monday, May 8th, W Blake Baird sold 2,668 shares of Matson stock. The shares were sold at an average price of $32.63, for a total value of $87,056.84.
Matson, Inc. (MATX) opened at 30.27 on Friday. The company has a market capitalization of $1.31 billion, a PE ratio of 17.39 and a beta of 1.13. The company has a 50-day moving average price of $29.60 and a 200 day moving average price of $31.81. Matson, Inc. has a 52-week low of $27.90 and a 52-week high of $43.00.
Matson (NYSE:MATX) last released its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Matson, Inc. will post $1.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 3rd will be issued a $0.20 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, August 1st. Matson’s payout ratio is currently 46.24%.
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A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Matson during the first quarter valued at about $119,000. UBS Group AG raised its position in Matson by 14.0% in the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after buying an additional 495 shares in the last quarter. Bank of Montreal Can raised its position in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares in the last quarter. State of Alaska Department of Revenue raised its position in Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock valued at $151,000 after buying an additional 110 shares in the last quarter. Finally, Princeton Alpha Management LP purchased a new position in Matson during the first quarter valued at about $273,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on MATX. TheStreet cut Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. Zacks Investment Research cut Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stephens set a $40.00 price objective on Matson and gave the company a “buy” rating in a research report on Saturday, June 10th. Finally, BidaskClub cut Matson from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Matson currently has a consensus rating of “Hold” and a consensus target price of $37.00.
Matson, Inc is a transportation company in the Marine industry.
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