Shares of Matson Inc (NYSE:MATX) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $39.20.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Saturday, November 17th. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co downgraded shares of Matson to a “hold” rating and set a $35.00 target price for the company. in a research report on Friday, September 28th.
Shares of MATX opened at $39.09 on Friday. Matson has a 52 week low of $27.73 and a 52 week high of $41.96. The company has a market cap of $1.68 billion, a P/E ratio of 21.96, a P/E/G ratio of 3.19 and a beta of 1.39. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16.
Matson (NYSE:MATX) last posted its earnings results on Monday, November 5th. The shipping company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The company had revenue of $589.40 million during the quarter, compared to the consensus estimate of $565.67 million. Matson had a net margin of 11.74% and a return on equity of 14.31%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that Matson will post 2.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, November 7th. Matson’s dividend payout ratio is currently 47.19%.
In other news, Director Mark H. Fukunaga acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was acquired at an average cost of $36.24 per share, with a total value of $144,960.00. Following the acquisition, the director now owns 10,432 shares in the company, valued at $378,055.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $39.79, for a total transaction of $39,790.00. Following the sale, the president now directly owns 61,884 shares of the company’s stock, valued at $2,462,364.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,000 shares of company stock valued at $111,810. 2.48% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Matson by 4.3% during the 3rd quarter. BlackRock Inc. now owns 6,497,106 shares of the shipping company’s stock worth $257,544,000 after buying an additional 268,422 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Matson by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,204,197 shares of the shipping company’s stock worth $166,654,000 after buying an additional 63,276 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Matson by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,667,981 shares of the shipping company’s stock worth $105,757,000 after buying an additional 28,509 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Matson by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 760,157 shares of the shipping company’s stock worth $30,133,000 after buying an additional 25,252 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Matson by 9.0% during the 2nd quarter. Northern Trust Corp now owns 586,741 shares of the shipping company’s stock worth $22,518,000 after buying an additional 48,592 shares during the period. 83.52% of the stock is owned by institutional investors and hedge funds.
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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