Matson (NYSE:MATX) Hits New 1-Year High – Time to Buy?

Matson, Inc. (NYSE:MATX) hit a new 52-week high on Monday . The stock traded as high as $208.33 and last traded at $207.49, with a volume of 9253 shares trading hands. The stock had previously closed at $204.77.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. JPMorgan Chase & Co. began coverage on Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Finally, Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.25.

Matson Price Performance

The firm’s 50-day moving average is $191.59 and its 200-day moving average is $169.60. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.39 billion, a PE ratio of 15.50 and a beta of 1.28.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same period last year, the company posted $2.18 EPS. Matson’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Matson, Inc. will post 13.96 EPS for the current 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 paid a dividend of $0.38 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.52 annualized dividend and a yield of 0.7%. This is a positive change from Matson’s previous quarterly dividend of $0.36. Matson’s dividend payout ratio (DPR) is 10.58%.

Insider Buying and Selling at Matson

In other news, SVP Grace M. Cerocke sold 1,200 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the transaction, the senior vice president directly owned 17,986 shares of the company’s stock, valued at $3,301,690.02. This represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Christopher A. Scott sold 1,520 shares of the 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 sale, the senior vice president directly owned 9,708 shares in the company, valued at $1,757,633.40. This trade represents a 13.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 23,963 shares of company stock worth $4,349,268. Insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Matson by 3.4% during the second quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock valued at $462,000 after buying an additional 80 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 94 shares during the last quarter. Bessemer Group Inc. grew its stake in Matson by 0.3% during the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after acquiring an additional 104 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Matson by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock valued at $2,418,000 after acquiring an additional 107 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Matson by 0.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors 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.