Matson (NYSE:MATX) posted its quarterly earnings data on Monday. The shipping company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06, Briefing.com reports. Matson had a return on equity of 14.40% and a net margin of 11.64%. The business had revenue of $589.40 million for the quarter, compared to analyst estimates of $565.67 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis.
NYSE MATX traded down $1.38 during trading hours on Wednesday, hitting $39.65. The company had a trading volume of 64,572 shares, compared to its average volume of 238,093. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. Matson has a 1-year low of $26.55 and a 1-year high of $41.96. The company has a market capitalization of $1.53 billion, a PE ratio of 22.28, a P/E/G ratio of 3.03 and a beta of 1.39.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.84 annualized dividend and a yield of 2.12%. Matson’s dividend payout ratio is presently 47.19%.
In related news, Director Mark H. Fukunaga acquired 4,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was bought at an average price of $36.24 per share, for a total transaction of $144,960.00. Following the completion of the purchase, the director now directly owns 10,432 shares of the company’s stock, valued at approximately $378,055.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $37.02, for a total transaction of $37,020.00. Following the completion of the transaction, the president now owns 62,884 shares of the company’s stock, valued at approximately $2,327,965.68. The disclosure for this sale can be found here. Insiders sold 3,000 shares of company stock valued at $111,810 in the last 90 days. 2.48% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in Matson by 436.0% in the third quarter. JPMorgan Chase & Co. now owns 53,865 shares of the shipping company’s stock valued at $2,135,000 after acquiring an additional 43,816 shares in the last quarter. LSV Asset Management raised its holdings in shares of Matson by 37.8% in the third quarter. LSV Asset Management now owns 201,012 shares of the shipping company’s stock valued at $7,968,000 after buying an additional 55,170 shares during the last quarter. Becker Capital Management Inc. purchased a new stake in shares of Matson in the third quarter valued at about $813,000. Meeder Asset Management Inc. raised its holdings in shares of Matson by 200.3% in the third quarter. Meeder Asset Management Inc. now owns 9,791 shares of the shipping company’s stock valued at $389,000 after buying an additional 6,531 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Matson by 22.5% in the third quarter. Wells Fargo & Company MN now owns 93,140 shares of the shipping company’s stock valued at $3,692,000 after buying an additional 17,099 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.
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Matson Company Profile
Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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