Stifel Nicolaus Boosts Matson (NYSE:MATX) Price Target to $111.00

Matson (NYSE:MATX) had its target price upped by Stifel Nicolaus from $109.00 to $111.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

Separately, StockNews.com upgraded Matson from a hold rating to a buy rating in a report on Wednesday.

Matson Price Performance

Shares of NYSE MATX opened at $113.36 on Wednesday. The stock’s 50-day moving average is $108.73 and its two-hundred day moving average is $106.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 1.07. Matson has a 1-year low of $62.71 and a 1-year high of $122.99. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 13.37 and a beta of 1.12.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. During the same quarter in the prior year, the business earned $0.94 EPS. Matson’s revenue was up 2.5% on a year-over-year basis. Analysts forecast that Matson will post 8.51 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.13%. Matson’s payout ratio is currently 15.09%.

Insider Activity

In other news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the transaction, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Matson during the 4th quarter worth approximately $26,000. USA Financial Formulas purchased a new position in Matson during the 4th quarter worth approximately $26,000. Security National Bank purchased a new position in Matson during the 4th quarter worth approximately $36,000. Blue Trust Inc. grew its stake in Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after buying an additional 217 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new position in Matson during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.