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

Shares of Matson, Inc. (NYSE:MATX) have been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $181.25.

A number of brokerages have recently issued reports on MATX. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. 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 for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th.

Insider Activity

In other news, SVP Laura L. Rascon sold 2,800 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $188.53, for a total transaction of $527,884.00. Following the transaction, the senior vice president directly owned 15,656 shares of the company’s stock, valued at $2,951,625.68. This represents a 15.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher A. Scott sold 3,305 shares of Matson stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total value of $595,362.70. Following the completion of the sale, the senior vice president directly owned 11,228 shares of the company’s stock, valued at $2,022,611.92. The trade was a 22.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,963 shares of company stock worth $4,349,268. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of large investors have recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Matson in the 4th quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in shares of Matson in the second quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in Matson during the third quarter valued at approximately $30,000. SouthState Bank Corp bought a new stake in Matson during the fourth quarter valued at approximately $31,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after buying an additional 94 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Trading Up 0.1%

Shares of NYSE:MATX opened at $218.62 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Matson has a 1 year low of $86.97 and a 1 year high of $230.74. The company has a market cap of $6.62 billion, a P/E ratio of 16.06 and a beta of 1.28. The stock’s fifty day moving average price is $195.26 and its 200-day moving average price is $172.91.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. During the same period last year, the company earned $2.18 EPS. Matson’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts expect that Matson will post 14.16 earnings per share for the current year.

Matson Increases Dividend

The business 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 dividend on an annualized basis and a yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. Matson’s dividend payout ratio (DPR) is presently 10.58%.

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.