Matthew J. Cox Sells 6,499 Shares of Matson, Inc. (NYSE:MATX) Stock

Matson, Inc. (NYSE:MATX) CEO Matthew J. Cox sold 6,499 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares in the company, valued at $30,043,710.36. The sale was disclosed in a filing with the SEC, which is available through this link.

Matson Stock Up 0.5 %

Shares of MATX traded up $0.69 during mid-day trading on Monday, hitting $142.62. The company’s stock had a trading volume of 336,845 shares, compared to its average volume of 281,795. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $132.59 and its 200-day moving average is $122.56. Matson, Inc. has a 52-week low of $82.68 and a 52-week high of $144.93. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 17.03 and a beta of 1.07.

Matson (NYSE:MATX) last posted its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. The company had revenue of $847.40 million during the quarter, compared to analyst estimates of $861.68 million. Matson had a return on equity of 13.87% and a net margin of 10.41%. On average, equities research analysts forecast that Matson, Inc. will post 11.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Matson

Hedge funds have recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. boosted its stake in Matson by 5.8% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock valued at $229,000 after acquiring an additional 114 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Matson by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after purchasing an additional 124 shares in the last quarter. AlphaMark Advisors LLC grew its stake in Matson by 4.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after buying an additional 131 shares during the last quarter. Measured Wealth Private Client Group LLC increased its position in Matson by 6.4% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock valued at $262,000 after buying an additional 140 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Matson by 0.9% in the second quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company’s stock valued at $2,569,000 after buying an additional 172 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MATX has been the subject of a number of research reports. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report 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.