Matson, Inc. (NYSE:MATX – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $192.53 and last traded at $190.6420, with a volume of 70945 shares changing hands. The stock had previously closed at $187.29.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on MATX. Zacks Research upgraded Matson to a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. JPMorgan Chase & Co. began coverage on Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.
View Our Latest Research Report on Matson
Matson Price Performance
Matson (NYSE:MATX – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.Matson’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 EPS. On average, sell-side analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.
Matson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. Matson’s payout ratio is currently 10.58%.
Insider Buying and Selling at Matson
In related news, SVP Kuuhaku T. Park sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the sale, the senior vice president owned 10,984 shares in the company, valued at $1,979,206.96. The trade was a 18.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $1,292,502.87. Following the sale, the executive vice president owned 25,506 shares in the company, valued at $4,595,926.14. This represents a 21.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,672 shares of company stock worth $4,210,279 over the last three months. 2.51% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Matson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock worth $453,616,000 after buying an additional 21,516 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Matson by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock worth $244,975,000 after buying an additional 21,463 shares during the period. American Century Companies Inc. lifted its holdings in Matson by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock worth $123,300,000 after buying an additional 35,229 shares during the period. Ameriprise Financial Inc. lifted its holdings in Matson by 27.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after buying an additional 128,994 shares during the period. Finally, Millennium Management LLC lifted its holdings in Matson by 144.9% during the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after buying an additional 269,310 shares during the period. 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.
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