Matson, Inc. (NYSE:MATX – Get Rating) SVP Richard S. Kinney sold 375 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $61.78, for a total transaction of $23,167.50. Following the completion of the transaction, the senior vice president now owns 8,600 shares of the company’s stock, valued at $531,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Matson Price Performance
Shares of MATX stock traded up $0.02 during mid-day trading on Friday, hitting $61.52. The company had a trading volume of 493,550 shares, compared to its average volume of 448,567. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.76 and a quick ratio of 1.76. The stock’s 50 day moving average price is $77.32 and its 200-day moving average price is $85.14. Matson, Inc. has a 52-week low of $60.35 and a 52-week high of $125.34. The company has a market capitalization of $2.40 billion, a P/E ratio of 1.83 and a beta of 1.25.
Matson (NYSE:MATX – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The shipping company reported $9.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.38 by $0.11. Matson had a net margin of 29.33% and a return on equity of 79.22%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.35 billion. Equities research analysts forecast that Matson, Inc. will post 30.75 earnings per share for the current year.
Analyst Upgrades and Downgrades
MATX has been the topic of a number of analyst reports. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and lowered their target price for the company from $131.00 to $93.00 in a research note on Tuesday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 2nd. Finally, Wolfe Research started coverage on Matson in a research report on Tuesday, August 16th. They set an “underperform” rating and a $80.00 target price for the company.
Institutional Investors Weigh In On Matson
A number of hedge funds have recently made changes to their positions in MATX. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Matson by 2,801.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 30,000 shares of the shipping company’s stock worth $3,619,000 after buying an additional 28,966 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Matson by 10.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 5,341 shares of the shipping company’s stock worth $644,000 after acquiring an additional 491 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Matson during the first quarter worth approximately $223,000. CIBC Asset Management Inc purchased a new stake in Matson during the first quarter valued at approximately $217,000. Finally, Financial Management Professionals Inc. lifted its stake in shares of Matson by 80.3% in the 1st quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 155 shares during the last quarter. 83.98% of the stock is currently owned by hedge funds and other institutional investors.
Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company’s Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.
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