Vic S. Angoco, Jr. Sells 8,000 Shares of Matson, Inc. (NYSE:MATX) Stock

Posted by Defense World Staff on May 19th, 2023

Matson, Inc. (NYSE:MATX – Get Rating) SVP Vic S. Angoco, Jr. sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $68.18, for a total transaction of $545,440.00. Following the sale, the senior vice president now owns 45,193 shares in the company, valued at approximately $3,081,258.74. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Matson Price Performance

Shares of NYSE:MATX opened at $70.24 on Friday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 3.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $62.89 and a 200 day simple moving average of $64.41. Matson, Inc. has a one year low of $56.51 and a one year high of $95.51.

Matson (NYSE:MATX – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The shipping company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. The business had revenue of $704.80 million during the quarter, compared to the consensus estimate of $704.34 million. Matson had a net margin of 19.54% and a return on equity of 33.72%. The firm’s revenue was down 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.23 EPS. Research analysts predict that Matson, Inc. will post 4.37 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, May 10th. Matson’s payout ratio is currently 6.39%.

Hedge Funds Weigh In On Matson

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its stake in shares of Matson by 300.9% during the third quarter. Quadrant Capital Group LLC now owns 441 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 331 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of Matson during the fourth quarter valued at $28,000. Federated Hermes Inc. raised its stake in shares of Matson by 39.4% during the first quarter. Federated Hermes Inc. now owns 548 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 155 shares during the last quarter. Ellevest Inc. raised its stake in shares of Matson by 124.9% during the third quarter. Ellevest Inc. now owns 650 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 361 shares during the last quarter. Finally, Ronald Blue Trust Inc. raised its stake in Matson by 115.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 803 shares of the shipping company’s stock worth $49,000 after buying an additional 431 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MATX. Stifel Nicolaus reduced their price target on shares of Matson from $73.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, April 20th. StockNews.com initiated coverage on shares of Matson in a research note on Thursday. They issued a “hold” rating for the company. Finally, Stephens dropped their price objective on shares of Matson from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd.

Matson Company Profile

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Matson, Inc is a holding company, which engages in the provision of logistics and transportation services. It operates through the Ocean Transportation and Logistics segments. The Ocean Transportation segment offers ocean freight transportation, container stevedoring, refrigerated cargo services, inland transportation, and other terminal services.