Matson, Inc. (NYSE:MATX) Given Average Recommendation of “Hold” by Brokerages
Matson, Inc. (NYSE:MATX) has earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.00.
A number of research firms have weighed in on MATX. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, August 3rd. Stephens set a $40.00 target price on Matson and gave the stock a “buy” rating in a research note on Saturday, June 10th. BidaskClub upgraded Matson from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet lowered Matson from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd.
Shares of Matson (NYSE:MATX) opened at 29.28 on Friday. The company has a 50-day moving average of $29.65 and a 200 day moving average of $31.55. The company has a market cap of $1.26 billion, a PE ratio of 16.82 and a beta of 1.13. Matson has a 12-month low of $27.90 and a 12-month high of $43.00.
Matson (NYSE:MATX) last released its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Matson will post $1.67 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.20 per share. This is an increase from Matson’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. Matson’s dividend payout ratio is presently 46.24%.
In other news, Director Stanley M. Kuriyama purchased 3,300 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $29.75 per share, with a total value of $98,175.00. Following the transaction, the director now owns 32,932 shares of the company’s stock, valued at $979,727. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director W Blake Baird sold 2,578 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total value of $77,288.44. Following the transaction, the director now directly owns 15,583 shares in the company, valued at approximately $467,178.34. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Virtu KCG Holdings LLC purchased a new position in Matson during the second quarter worth about $248,000. Citadel Advisors LLC increased its position in Matson by 198.1% in the second quarter. Citadel Advisors LLC now owns 212,674 shares of the shipping company’s stock worth $6,388,000 after buying an additional 141,336 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Matson by 15.1% in the second quarter. Parametric Portfolio Associates LLC now owns 76,585 shares of the shipping company’s stock worth $2,301,000 after buying an additional 10,048 shares during the last quarter. California Public Employees Retirement System increased its position in Matson by 2.8% in the second quarter. California Public Employees Retirement System now owns 81,200 shares of the shipping company’s stock worth $2,439,000 after buying an additional 2,200 shares during the last quarter. Finally, FMR LLC increased its position in Matson by 202.0% in the second quarter. FMR LLC now owns 61,300 shares of the shipping company’s stock worth $1,841,000 after buying an additional 41,000 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.
Matson Company Profile
Matson, Inc is a transportation company in the Marine industry.
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