Matson (NYSE:MATX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Matson (NYSE:MATX) from a hold rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Freedom Broker began coverage on shares of Matson in a research note on Wednesday, September 30th. They set a “buy” rating and a $260.00 price objective for the company. Weiss Ratings raised Matson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research downgraded Matson from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. raised their target price on Matson from $270.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Finally, Stephens lifted their price target on Matson from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Matson currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Matson Stock Down 2.2%

MATX stock opened at $207.19 on Friday. The firm has a 50 day moving average of $226.82 and a 200 day moving average of $194.63. The stock has a market capitalization of $6.20 billion, a PE ratio of 11.96 and a beta of 1.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson has a 52 week low of $101.98 and a 52 week high of $240.87.

Matson (NYSE:MATX) last released its earnings results on Wednesday, November 4th. The shipping company reported $6.96 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.69. Matson had a net margin of 14.58% and a return on equity of 19.55%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $4.24 EPS. Matson’s revenue was up 26.5% compared to the same quarter last year. Sell-side analysts forecast that Matson will post 18.90 earnings per share for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, November 5th. Matson’s dividend payout ratio is 8.60%.

Insiders Place Their Bets

In other Matson news, EVP Peter Heilmann sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the completion of the transaction, the executive vice president directly owned 20,506 shares of the company’s stock, valued at approximately $4,514,395.90. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vic Angoco, Jr. sold 2,293 shares of Matson stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $222.76, for a total transaction of $510,788.68. Following the sale, the executive vice president owned 12,507 shares of the company’s stock, valued at approximately $2,786,059.32. The trade was a 15.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 7,893 shares of company stock valued at $1,743,479. 2.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its position in Matson by 30.3% during the third quarter. Bessemer Group Inc. now owns 171,412 shares of the shipping company’s stock valued at $37,649,000 after purchasing an additional 39,859 shares during the period. Virtus Advisers LLC acquired a new stake in Matson during the 3rd quarter worth about $434,000. Danske Bank A S grew its position in Matson by 31.7% during the 3rd quarter. Danske Bank A S now owns 84,617 shares of the shipping company’s stock worth $18,585,000 after purchasing an additional 20,368 shares during the period. Fisher Asset Management LLC grew its position in Matson by 11.8% during the 3rd quarter. Fisher Asset Management LLC now owns 4,407 shares of the shipping company’s stock worth $968,000 after purchasing an additional 466 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of Matson by 50.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,654 shares of the shipping company’s stock valued at $1,461,000 after buying an additional 2,232 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Company Profile

Matson, Inc is a transportation company focused on ocean shipping and logistics. Founded in 1882 by Captain William Matson, the company has a long history of connecting communities and businesses across the Pacific.

Matson provides ocean transportation services to Hawaii, Alaska, Guam, Micronesia, and the South Pacific, as well as a service linking China with the U.S. West Coast. Its operations include container shipping and the transport of goods such as vehicles and other cargo.

Through its logistics business, Matson also offers freight forwarding, intermodal transportation, and supply chain services.