Matson, Inc. (NYSE:MATX) Director Mark H. Fukunaga Buys 1,573 Shares

Matson, Inc. (NYSE:MATX – Get Rating) Director Mark H. Fukunaga bought 1,573 shares of the firm’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $63.59 per share, for a total transaction of $100,027.07. Following the acquisition, the director now directly owns 24,297 shares of the company’s stock, valued at approximately $1,545,046.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Matson Trading Down 6.3 %

Shares of MATX traded down $4.04 during trading hours on Friday, hitting $60.00. 935,140 shares of the stock traded hands, compared to its average volume of 306,717. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.19. Matson, Inc. has a 1-year low of $58.06 and a 1-year high of $125.34. The firm has a market capitalization of $2.16 billion, a PE ratio of 2.25 and a beta of 1.18. The business has a fifty day moving average of $65.52 and a 200-day moving average of $66.24.

Matson (NYSE:MATX – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The shipping company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.13. Matson had a return on equity of 49.26% and a net margin of 24.50%. The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $801.22 million. During the same quarter in the prior year, the firm posted $9.39 earnings per share. The firm’s revenue for the quarter was down 36.7% compared to the same quarter last year. Analysts expect that Matson, Inc. will post 4.99 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 9th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, February 8th. Matson’s payout ratio is 4.64%.

Analysts Set New Price Targets

Several brokerages have recently commented on MATX. Stifel Nicolaus decreased their target price on Matson from $79.00 to $73.00 and set a “hold” rating on the stock in a report on Thursday, January 19th. Stephens cut their price target on Matson from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. Finally, StockNews.com assumed coverage on Matson in a research note on Thursday. They set a “hold” rating on the stock.

Hedge Funds Weigh In On Matson

Several hedge funds have recently added to or reduced their stakes in MATX. Ronald Blue Trust Inc. lifted its stake in Matson by 92.7% in the third quarter. Ronald Blue Trust Inc. now owns 372 shares of the shipping company’s stock valued at $27,000 after buying an additional 179 shares during the period. Quadrant Capital Group LLC lifted its stake in Matson by 300.9% in the third quarter. Quadrant Capital Group LLC now owns 441 shares of the shipping company’s stock valued at $27,000 after buying an additional 331 shares during the period. Glass Jacobson Investment Advisors llc acquired a new position in Matson in the fourth quarter valued at about $28,000. Islay Capital Management LLC acquired a new position in Matson in the third quarter valued at about $32,000. Finally, Ellevest Inc. raised its position in shares of Matson by 124.9% during the third quarter. Ellevest Inc. now owns 650 shares of the shipping company’s stock worth $40,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 83.55% of the company’s stock.

About Matson

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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.