Shares of Matson (NYSE:MATX) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.00.
A number of research firms have recently commented on MATX. Oppenheimer reiterated a “buy” rating on shares of Matson in a report on Tuesday, May 8th. Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Stephens set a $33.00 price objective on Matson and gave the company a “hold” rating in a report on Monday, April 9th. TheStreet downgraded Matson from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Finally, Wells Fargo upgraded Matson from an “underperform” rating to a “market perform” rating in a report on Monday, January 29th.
In related news, Director W Blake Baird sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $31.12, for a total transaction of $62,240.00. Following the transaction, the director now owns 17,015 shares in the company, valued at approximately $529,506.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vic S. Angoco, Jr. sold 3,558 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $33.25, for a total value of $118,303.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,773 shares of company stock worth $1,482,732 in the last 90 days. 2.48% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MATX. Wells Fargo & Company MN grew its stake in Matson by 21.6% during the 3rd quarter. Wells Fargo & Company MN now owns 68,821 shares of the shipping company’s stock worth $1,939,000 after buying an additional 12,222 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Matson by 2.7% in the 3rd quarter. California Public Employees Retirement System now owns 83,418 shares of the shipping company’s stock valued at $2,351,000 after purchasing an additional 2,218 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Matson by 15.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 335,109 shares of the shipping company’s stock valued at $10,000,000 after purchasing an additional 43,683 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Matson in the 4th quarter valued at approximately $1,767,000. Finally, Hermes Investment Management Ltd. grew its stake in shares of Matson by 8.0% in the 4th quarter. Hermes Investment Management Ltd. now owns 774,057 shares of the shipping company’s stock valued at $23,098,000 after purchasing an additional 57,466 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.
MATX stock traded up $0.16 during mid-day trading on Monday, reaching $33.83. The company had a trading volume of 2,668 shares, compared to its average volume of 254,754. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.42 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.03 and a beta of 1.44. Matson has a fifty-two week low of $33.32 and a fifty-two week high of $33.53.
Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, May 1st. The shipping company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.10. Matson had a return on equity of 14.30% and a net margin of 11.48%. The business had revenue of $511.40 million for the quarter, compared to the consensus estimate of $463.48 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. analysts expect that Matson will post 2.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Thursday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. Matson’s dividend payout ratio is presently 44.94%.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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