Matson (NYSE:MATX) Sets New 12-Month High – Time to Buy?

Matson, Inc. (NYSE:MATX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $154.83 and last traded at $154.3910, with a volume of 142846 shares. The stock had previously closed at $144.64.

Analysts Set New Price Targets

MATX has been the topic of a number of recent analyst reports. Stephens increased their price objective on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $156.25.

Matson Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4.95 billion, a PE ratio of 12.09 and a beta of 1.33. The business has a 50 day simple moving average of $123.76 and a 200 day simple moving average of $110.76.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.99. The firm had revenue of $880.10 million for the quarter, compared to the consensus estimate of $837.72 million. Matson had a net margin of 12.70% and a return on equity of 16.23%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.89 earnings per share. Equities research analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.9%. Matson’s dividend payout ratio (DPR) is currently 10.96%.

Hedge Funds Weigh In On Matson

Hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. lifted its position in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after purchasing an additional 102 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Matson during the second quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Matson in the third quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its position in Matson by 42.6% in the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after buying an additional 132 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.