Matson, Inc. (MATX) Lowered to C+ at TheStreet
Matson, Inc. (NYSE:MATX) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a research note issued on Monday.
Separately, Zacks Investment Research upgraded Matson from a “sell” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Wednesday, April 26th.
Shares of Matson (NYSE:MATX) traded down 0.43% during midday trading on Monday, reaching $29.89. The company’s stock had a trading volume of 56,914 shares. The stock’s 50-day moving average price is $31.24 and its 200-day moving average price is $34.35. The company has a market cap of $1.29 billion, a P/E ratio of 18.68 and a beta of 1.02. Matson has a 12-month low of $28.24 and a 12-month high of $43.00.
Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, May 3rd. The shipping company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Matson had a return on equity of 20.49% and a net margin of 4.57%. The business had revenue of $474.40 million for the quarter, compared to the consensus estimate of $417.03 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect that Matson will post $1.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 9th. This represents a $0.76 dividend on an annualized basis and a yield of 2.53%. Matson’s dividend payout ratio is presently 38.00%.
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In other news, Director Stanley M. Kuriyama purchased 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the purchase, the director now directly owns 32,932 shares of the company’s stock, valued at approximately $979,727. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $32.16, for a total value of $643,200.00. Following the transaction, the chief executive officer now owns 241,720 shares in the company, valued at approximately $7,773,715.20. The disclosure for this sale can be found here. Insiders have sold a total of 26,968 shares of company stock worth $877,919 in the last 90 days. 2.36% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. J. Goldman & Company purchased a new position in Matson during the third quarter worth about $577,000. Capstone Asset Management Company increased its position in Matson by 1.8% in the fourth quarter. Capstone Asset Management Company now owns 14,963 shares of the shipping company’s stock worth $638,000 after buying an additional 270 shares in the last quarter. Baker Ellis Asset Management increased its position in Matson by 2.0% in the fourth quarter. Baker Ellis Asset Management now owns 24,269 shares of the shipping company’s stock worth $1,035,000 after buying an additional 466 shares in the last quarter. Capital One National Association increased its position in Matson by 0.7% in the fourth quarter. Capital One National Association now owns 28,993 shares of the shipping company’s stock worth $1,236,000 after buying an additional 206 shares in the last quarter. Finally, Russell Frank Co increased its position in Matson by 5.0% in the fourth quarter. Russell Frank Co now owns 59,791 shares of the shipping company’s stock worth $2,578,000 after buying an additional 2,869 shares in the last quarter. Hedge funds and other institutional investors own 83.14% of the company’s stock.
Matson, Inc is a transportation company in the Marine industry.
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