Yahoo Finance Insider Sale: EVP & CFO Joel Wine Sells 8,941 Shares of Matson Inc (MATX)
On June 27, 2024, Joel Wine, Executive Vice President and Chief Financial Officer of Matson Inc (NYSE:MATX), sold 8,941 shares of the company. The transaction was executed at a price of $128.8 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 151,329 shares of Matson Inc.
Matson Inc, a transportation and logistics company, provides shipping services primarily in the Pacific. The company's fleet includes container ships and custom-designed barges that offer lifeline services between the continental United States and Hawaii, Alaska, Guam, other islands of the Pacific, and East Asia.
Over the past year, the insider has sold a total of 20,277 shares and has not made any purchases. This recent sale is part of a broader trend observed at Matson Inc, where there have been 29 insider sells and no insider buys over the past year.
Shares of Matson Inc were trading at $128.8 on the day of the sale, giving the company a market cap of approximately $4.45 billion. The price-earnings ratio of the company stands at 15.37, which is above the industry median of 14.49.
According to the GF Value, Matson Inc is significantly overvalued with a price-to-GF-Value ratio of 1.48, based on a GF Value of $86.86. The GF Value is calculated considering historical trading multiples, an adjustment factor based on the company's past performance, and future business performance estimates.
This insider sale might interest investors tracking ownership changes and evaluating the stock's current valuation metrics, including the price-to-free cash flow, price-sales ratio, and price-book ratio.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
