Matson (NYSE:MATX) Posts Earnings Results

Matson (NYSE:MATX) released its quarterly earnings results on Monday. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.48, Zacks reports. Matson had a return on equity of 15.90% and a net margin of 12.92%.

Matson Stock Performance

Shares of Matson stock traded up $4.85 during midday trading on Monday, hitting $207.44. The company had a trading volume of 328,496 shares, compared to its average volume of 288,596. Matson has a 1-year low of $86.97 and a 1-year high of $230.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $6.28 billion, a PE ratio of 15.24 and a beta of 1.27. The business’s 50 day simple moving average is $199.17 and its two-hundred day simple moving average is $177.33.

Matson Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.33.

Insider Buying and Selling

In other news, SVP Christopher A. Scott sold 1,520 shares of Matson stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total transaction of $275,196.00. Following the sale, the senior vice president owned 9,708 shares of the company’s stock, valued at approximately $1,757,633.40. This trade represents a 13.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kuuhaku T. Park sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the sale, the senior vice president owned 10,984 shares in the company, valued at approximately $1,979,206.96. This represents a 18.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 23,963 shares of company stock worth $4,349,268. 2.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matson

A number of hedge funds and other institutional investors have recently made changes to their positions in MATX. Summit Global Investments boosted its position in shares of Matson by 23.8% during the 4th quarter. Summit Global Investments now owns 11,867 shares of the shipping company’s stock valued at $1,466,000 after acquiring an additional 2,278 shares in the last quarter. XTX Topco Ltd acquired a new position in Matson in the fourth quarter worth about $760,000. Uniplan Investment Counsel Inc. acquired a new position in Matson in the fourth quarter worth about $201,000. Voloridge Investment Management LLC bought a new position in Matson during the fourth quarter worth about $1,725,000. Finally, SummitTX Capital L.P. bought a new position in Matson during the fourth quarter worth about $6,303,000. 84.76% of the stock is owned by institutional investors.

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.