Matson, Inc. (NYSE:MATX) Receives Average Rating of “Moderate Buy” from Analysts

Matson, Inc. (NYSE:MATX) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $181.25.

Several research firms recently weighed in on MATX. JPMorgan Chase & Co. initiated coverage on shares of Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 target price on the stock. Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th.

Matson Stock Performance

NYSE:MATX opened at $181.67 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 13.35 and a beta of 1.30. The firm’s fifty day simple moving average is $171.34 and its 200 day simple moving average is $148.88. Matson has a twelve month low of $86.97 and a twelve month high of $190.00.

Matson (NYSE:MATX) last posted its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 EPS. As a group, equities research analysts expect that Matson will post 13.96 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be issued a $0.36 dividend. The ex-dividend date is Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson’s payout ratio is currently 10.58%.

Insider Transactions at Matson

In other Matson news, SVP John Warren Sullivan sold 3,331 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $600,046.34. Following the transaction, the senior vice president owned 9,547 shares in the company, valued at $1,719,796.58. The trade was a 25.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 13,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the completion of the transaction, the executive vice president owned 32,679 shares in the company, valued at $5,407,067.34. This represents a 28.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,513 shares of company stock worth $10,635,702 over the last three months. Insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Matson

A number of institutional investors have recently added to or reduced their stakes in MATX. Tudor Investment Corp ET AL raised its stake in shares of Matson by 2,944.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 57,850 shares of the shipping company’s stock valued at $5,703,000 after purchasing an additional 55,950 shares in the last quarter. SummerHaven Investment Management LLC acquired a new stake in shares of Matson in the 3rd quarter valued at about $740,000. American Century Companies Inc. raised its stake in shares of Matson by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Citigroup Inc. raised its stake in shares of Matson by 49.3% in the 3rd quarter. Citigroup Inc. now owns 50,580 shares of the shipping company’s stock valued at $4,987,000 after purchasing an additional 16,712 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Matson in the 4th quarter valued at about $2,017,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.