Matson, Inc. (NYSE:MATX – Get Free Report) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $181.25.
MATX has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Friday. Finally, Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th.
View Our Latest Analysis on MATX
Matson Stock Performance
Matson (NYSE:MATX – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. During the same quarter in the prior year, the business posted $2.18 earnings per share. Matson’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, sell-side analysts predict that Matson will post 13.96 EPS for the current year.
Matson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. Matson’s dividend payout ratio is presently 10.58%.
Insider Buying and Selling
In related news, SVP Grace M. Cerocke sold 1,200 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the sale, the senior vice president directly owned 17,986 shares of the company’s stock, valued at approximately $3,301,690.02. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laura L. Rascon sold 540 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total transaction of $97,648.20. Following the sale, the senior vice president directly owned 18,456 shares of the company’s stock, valued at approximately $3,337,398.48. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,275 shares of company stock valued at $5,639,495. 2.51% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL lifted its position in Matson by 2,944.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 57,850 shares of the shipping company’s stock valued at $5,703,000 after purchasing an additional 55,950 shares during the last quarter. American Century Companies Inc. lifted its position in Matson by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock valued at $123,300,000 after purchasing an additional 35,229 shares during the last quarter. SummerHaven Investment Management LLC bought a new stake in Matson in the 3rd quarter valued at about $740,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Matson in the 4th quarter valued at about $2,017,000. Finally, Citigroup Inc. lifted its position in Matson by 49.3% in the 3rd quarter. Citigroup Inc. now owns 50,580 shares of the shipping company’s stock valued at $4,987,000 after purchasing an additional 16,712 shares during the last quarter. 84.76% of the stock is currently owned by 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.
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