In a recent transaction, Matson , Inc. (NYSE:MATX) Senior Vice President Richard S. Kinney sold 1,792 shares of the company's common stock, resulting in a total sale amount of over $206,000. The sale took place on May 16, 2024, with the weighted average sale price reported at $115.1063 per share.
According to the details provided, the shares were sold in multiple trades with prices ranging between $114.71 and $115.62. Following the transaction, Kinney still owns a total of 9,588 shares of Matson, Inc., indicating a continued investment in the company's future.
The sale by a high-ranking executive such as Kinney is notable to investors who track insider transactions as potential indicators of the company's performance and executive sentiment. The provided information also includes a commitment by Kinney to furnish the Securities and Exchange Commission, the issuer, or any security holder with full details regarding the specific number of shares and the prices at which the transaction occurred if requested.
Matson, Inc., headquartered in Honolulu, Hawaii, operates within the water transportation industry and has a long history dating back to its former name, Alexander & Baldwin Inc. This transaction comes amidst the normal course of business and is part of the routine financial disclosures required by company insiders.
Investors and analysts often scrutinize insider sales for insights into the company's health and future prospects, although such sales can also be part of personal financial planning or diversification strategies by the executives.
InvestingPro Insights
Matson, Inc. (NYSE:MATX) has been demonstrating a strong financial performance with a market capitalization of $3.97 billion, reflecting a substantial presence in the water transportation industry. The company's price-to-earnings (P/E) ratio stands at 13.47, with a slight adjustment in the last twelve months as of Q1 2024 to 13.19, indicating a stable valuation relative to earnings.
The InvestingPro data further reveals a robust return on assets of 7.08% for the same period, underscoring efficient asset utilization. Moreover, investors holding Matson shares have seen a commendable one-year price total return of 69.15%, which aligns with the company's history of financial resilience and market performance.
An InvestingPro Tip highlights that Matson has not only maintained its dividend payments for 52 consecutive years but has also raised its dividend for 10 consecutive years, with a recent dividend yield of 1.1%. This consistent return to shareholders is a testament to the company's commitment to its investors and its ability to generate sustainable cash flows. For those interested in a deeper dive into Matson's financial health and future potential, there are 10 additional InvestingPro Tips available, providing a comprehensive analysis of the company's strategic positioning and financial outlook.
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