Matson (NYSE:MATX) Sets New 52-Week High – Should You Buy?

Matson, Inc. (NYSE:MATX)’s share price hit a new 52-week high on Friday . The company traded as high as $192.53 and last traded at $190.6420, with a volume of 70945 shares. The stock had previously closed at $187.29.

Analyst Ratings Changes

Several equities analysts recently commented on MATX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, 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 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Matson currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.

Matson Stock Performance

The stock has a fifty day simple moving average of $176.46 and a 200-day simple moving average of $153.43. The stock has a market cap of $5.69 billion, a P/E ratio of 13.81 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. During the same quarter last year, the firm earned $2.18 EPS. Matson’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts expect that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, May 7th. Matson’s payout ratio is 10.58%.

Insider Activity

In related news, SVP Christopher A. Scott sold 1,520 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the completion of the transaction, the senior vice president directly owned 9,708 shares of the company’s stock, valued at approximately $1,757,633.40. This represents a 13.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter T. Heilmann sold 7,173 shares of Matson stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the completion of the sale, the executive vice president owned 25,506 shares in the company, valued at $4,595,926.14. This trade represents a 21.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,672 shares of company stock worth $4,210,279. Corporate insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Matson

Institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Matson during the fourth quarter worth $25,000. Federated Hermes Inc. boosted its position in Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. SouthState Bank Corp bought a new position in Matson during the fourth quarter worth $31,000. Headlands Technologies LLC bought a new position in Matson during the second quarter worth $28,000. Finally, EverSource Wealth Advisors LLC boosted its position in Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after purchasing an additional 94 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.