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

Shares of Matson, Inc. (NYSE:MATX) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $181.25.

Several equities analysts recently commented on MATX shares. JPMorgan Chase & Co. started coverage on shares of Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th.

Matson Stock Performance

Shares of NYSE:MATX opened at $191.86 on Friday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 14.10 and a beta of 1.29. Matson has a 12 month low of $86.97 and a 12 month high of $203.08. The firm’s 50-day moving average is $182.53 and its 200 day moving average is $159.65. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. Research analysts predict that Matson will post 13.96 EPS for the current year.

Matson Announces Dividend

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

Insider Buying and Selling

In other Matson news, SVP Grace M. Cerocke sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $183.57, for a total value of $220,284.00. Following the completion of the sale, the senior vice president directly owned 17,986 shares of the company’s stock, valued at $3,301,690.02. The trade was a 6.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the business’s stock in a transaction dated 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 directly owned 25,506 shares of the company’s stock, valued at approximately $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. Insiders sold 23,963 shares of company stock worth $4,349,268 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Matson

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Matson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after buying an additional 21,516 shares during the period. Dimensional Fund Advisors LP boosted its position in Matson by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after buying an additional 21,463 shares during the period. American Century Companies Inc. boosted its position in 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 buying an additional 35,229 shares during the period. Ameriprise Financial Inc. boosted its position in Matson by 27.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares during the period. Finally, Millennium Management LLC boosted its position in Matson by 144.9% in the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.