ValuEngine upgraded shares of Matson (NYSE:MATX) from a hold rating to a buy rating in a research note released on Tuesday.
MATX has been the subject of a number of other reports. Wells Fargo & Co cut shares of Matson to a hold rating and set a $35.00 price target for the company. in a research report on Friday, September 28th. Stifel Nicolaus upped their price target on shares of Matson from $38.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $41.17.
Shares of Matson stock opened at $41.03 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. Matson has a twelve month low of $26.55 and a twelve month high of $41.96. The firm has a market cap of $1.53 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39.
Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Matson had a net margin of 11.64% and a return on equity of 14.40%. The firm had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $565.67 million. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Matson will post 2.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.05%. Matson’s dividend payout ratio (DPR) is 47.19%.
In other news, Director Mark H. Fukunaga acquired 4,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was bought at an average cost of $36.24 per share, with a total value of $144,960.00. Following the transaction, the director now directly owns 10,432 shares in the company, valued at approximately $378,055.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $37.02, for a total transaction of $37,020.00. Following the completion of the transaction, the president now directly owns 62,884 shares of the company’s stock, valued at $2,327,965.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,000 shares of company stock valued at $111,810. 2.48% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Brown Advisory Inc. bought a new position in shares of Matson during the second quarter worth about $1,384,000. Legal & General Group Plc lifted its position in shares of Matson by 2.4% during the first quarter. Legal & General Group Plc now owns 78,909 shares of the shipping company’s stock worth $2,247,000 after purchasing an additional 1,831 shares during the last quarter. Raymond James & Associates bought a new position in shares of Matson during the second quarter worth about $624,000. Alps Advisors Inc. lifted its position in shares of Matson by 161.1% during the third quarter. Alps Advisors Inc. now owns 76,780 shares of the shipping company’s stock worth $3,044,000 after purchasing an additional 47,379 shares during the last quarter. Finally, Mackay Shields LLC lifted its position in shares of Matson by 97.1% during the second quarter. Mackay Shields LLC now owns 82,200 shares of the shipping company’s stock worth $3,155,000 after purchasing an additional 40,500 shares during the last quarter. 84.83% of the stock is currently owned by institutional investors and hedge funds.
Matson Company Profile
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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