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

Shares of Matson, Inc. (NYSE:MATX) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $181.25.

A number of research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Zacks Research raised Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. assumed coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company.

Insider Activity at Matson

In other news, SVP Christopher A. Scott sold 3,305 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $180.14, for a total transaction of $595,362.70. Following the transaction, the senior vice president owned 11,228 shares in the company, valued at $2,022,611.92. This represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Laura L. Rascon sold 2,800 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $188.53, for a total transaction of $527,884.00. Following the transaction, the senior vice president owned 15,656 shares in the company, valued at $2,951,625.68. This represents a 15.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,963 shares of company stock worth $4,349,268 over the last quarter. 2.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matson

Several hedge funds have recently bought and sold shares of the business. Danske Bank A S bought a new position in Matson during the fourth quarter valued at about $25,000. Headlands Technologies LLC acquired a new stake in shares of Matson in the second quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Matson during the 3rd quarter worth about $30,000. SouthState Bank Corp bought a new stake in shares of Matson during the 4th quarter worth about $31,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Matson by 57.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Up 2.9%

Matson stock opened at $211.01 on Wednesday. The firm has a market cap of $6.39 billion, a PE ratio of 15.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $191.59 and its two-hundred day moving average price is $169.60. Matson has a twelve month low of $86.97 and a twelve month high of $211.52.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $777.55 million. During the same period in the prior year, the business posted $2.18 earnings per share. Matson’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts predict that Matson will post 13.96 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a $0.38 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 6th. Matson’s payout ratio is presently 10.58%.

Matson Company Profile

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.