Matson (NYSE:MATX) Sets New 52-Week High – Time to Buy?

Matson, Inc. (NYSE:MATX)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $164.88 and last traded at $164.25, with a volume of 31847 shares trading hands. The stock had previously closed at $160.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MATX shares. Stephens boosted their price target on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $156.25.

Matson Price Performance

The company has a 50 day moving average of $129.33 and a two-hundred day moving average of $112.38. The firm has a market cap of $5.10 billion, a P/E ratio of 12.45 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.25 by $0.99. Matson had a net margin of 12.70% and a return on equity of 16.23%. The firm had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $837.72 million. During the same period in the previous year, the business earned $5.89 earnings per share. Matson’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be given a $0.36 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.44 annualized dividend and a yield of 0.9%. Matson’s payout ratio is 10.96%.

Institutional Investors Weigh In On Matson

A number of institutional investors and hedge funds have recently modified their holdings of MATX. Federated Hermes Inc. raised its position in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Danske Bank A S acquired a new stake in Matson during the 4th quarter worth about $25,000. Hantz Financial Services Inc. lifted its stake in Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock valued at $28,000 after buying an additional 102 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Matson during the second quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Matson in the third quarter worth about $30,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.