Matson, Inc. (NYSE:MATX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Matson, Inc. (NYSE:MATX) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $181.25.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective on the stock. Finally, Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th.

Matson Trading Down 1.0%

Shares of MATX opened at $194.40 on Friday. The firm’s 50-day moving average price is $184.96 and its 200-day moving average price is $162.52. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.28 and a beta of 1.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson has a 1-year low of $86.97 and a 1-year high of $203.08.

Matson (NYSE:MATX) last announced its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 EPS. Sell-side analysts anticipate that Matson will post 13.96 EPS for the current year.

Matson Increases Dividend

The company also recently announced 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. This is a boost from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Matson’s payout ratio is currently 10.58%.

Insider Transactions at Matson

In other news, SVP Christopher A. Scott sold 3,305 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $595,362.70. Following the transaction, the senior vice president owned 11,228 shares in the company, valued at approximately $2,022,611.92. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter T. Heilmann sold 7,173 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the completion of the transaction, the executive vice president owned 25,506 shares in the company, valued at approximately $4,595,926.14. This represents a 21.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 23,963 shares of company stock valued at $4,349,268. 2.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Danske Bank A S purchased a new stake in shares of Matson in the fourth quarter worth $25,000. Headlands Technologies LLC purchased a new position in Matson during the second quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new position in Matson during the third quarter valued at $30,000. SouthState Bank Corp bought a new position in Matson during the fourth quarter valued at $31,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 94 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.