Matson, Inc. (NYSE:MATX) CEO Sells $934,686.18 in Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 6,499 shares of Matson stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $143.82, for a total value 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. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Matson Stock Down 0.8 %

Matson stock opened at $140.01 on Thursday. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $144.93. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 16.51 and a beta of 1.07. The business’s 50-day moving average price is $133.34 and its 200 day moving average price is $123.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Matson (NYSE:MATX) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The firm had revenue of $847.40 million during the quarter, compared to analyst estimates of $861.68 million. As a group, sell-side analysts anticipate that Matson, Inc. will post 11.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MATX. Vanguard Group Inc. increased its stake in shares of Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after purchasing an additional 215,452 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Matson by 3,509.3% in the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 183,676 shares in the last quarter. Millennium Management LLC increased its position in shares of Matson by 126.5% in the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock valued at $31,448,000 after buying an additional 134,092 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in shares of Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock worth $46,680,000 after buying an additional 122,017 shares during the period. Finally, Norges Bank purchased a new position in shares of Matson during the 4th quarter valued at approximately $10,295,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MATX. Stephens lifted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Matson Company Profile

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.