Matson (MATX) Lowered to “Sell” at Zacks Investment Research

Matson (NYSE:MATX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “Matson, Inc. operates as an ocean transportation and logistics company. It offers shipping services in Hawaii, Guam, and Micronesia islands and expedited service from China to southern California. The company’s logistics services consist of rail intermodal service, long haul and regional highway truckload services, less-than-truckload transportation, specialized hauling, flatbed, and project works, warehousing and distribution services, transloading, cross-dock services, and packaging services, and network analysis and freight management services. Matson, Inc., formerly known as Alexander & Baldwin Holdings, Inc., is headquartered in Honolulu, Hawaii. “

A number of other equities analysts have also recently commented on MATX. ValuEngine cut Matson from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Stifel Nicolaus cut Matson from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $41.60.

NYSE MATX opened at $34.10 on Thursday. Matson has a twelve month low of $27.73 and a twelve month high of $41.96. The firm has a market cap of $1.43 billion, a PE ratio of 19.16 and a beta of 1.45. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.92 and a quick ratio of 0.92.

In other Matson news, SVP Peter T. Heilmann sold 2,750 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $39.74, for a total value of $109,285.00. Following the sale, the senior vice president now owns 41,435 shares of the company’s stock, valued at approximately $1,646,626.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ronald J. Forest sold 1,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the president now directly owns 59,884 shares in the company, valued at approximately $2,395,360. The disclosure for this sale can be found here. Insiders sold a total of 5,750 shares of company stock worth $215,255 in the last ninety days. 2.48% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Matson by 4.3% in the 3rd quarter. BlackRock Inc. now owns 6,497,106 shares of the shipping company’s stock valued at $257,544,000 after purchasing an additional 268,422 shares in the last quarter. Vanguard Group Inc. raised its position in Matson by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,204,197 shares of the shipping company’s stock valued at $166,654,000 after purchasing an additional 63,276 shares in the last quarter. Vanguard Group Inc raised its position in Matson by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 4,204,197 shares of the shipping company’s stock valued at $166,654,000 after purchasing an additional 63,276 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Matson by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,667,981 shares of the shipping company’s stock valued at $105,757,000 after purchasing an additional 28,509 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Matson by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 760,157 shares of the shipping company’s stock valued at $30,133,000 after purchasing an additional 25,252 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

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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