Matson (NYSE:MATX) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Matson (NYSE:MATX) from a hold rating to a buy rating in a research note released on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Matson from a sell rating to a hold rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Matson has a consensus rating of Hold and a consensus target price of $40.25.

Shares of MATX stock traded down $0.52 during trading on Wednesday, hitting $38.87. The company had a trading volume of 114,820 shares, compared to its average volume of 120,767. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 3.48 and a beta of 1.56. The stock’s 50-day simple moving average is $38.66. Matson has a one year low of $30.60 and a one year high of $42.15.

Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $532.40 million during the quarter, compared to analysts’ expectations of $522.89 million. Matson had a return on equity of 14.49% and a net margin of 4.78%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts predict that Matson will post 2.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, July 31st. This is a boost from Matson’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.26%. Matson’s dividend payout ratio is presently 34.78%.

In other Matson news, CEO Matthew J. Cox sold 23,500 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $37.54, for a total transaction of $882,190.00. Following the completion of the sale, the chief executive officer now directly owns 244,742 shares in the company, valued at $9,187,614.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Cox sold 30,000 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $37.94, for a total value of $1,138,200.00. Following the sale, the chief executive officer now owns 274,742 shares of the company’s stock, valued at $10,423,711.48. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $2,114,465 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of Matson by 41.0% in the 4th quarter. United Services Automobile Association now owns 8,926 shares of the shipping company’s stock valued at $286,000 after acquiring an additional 2,597 shares during the last quarter. Geode Capital Management LLC grew its stake in Matson by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 444,885 shares of the shipping company’s stock worth $14,245,000 after buying an additional 31,971 shares during the last quarter. Principal Financial Group Inc. grew its stake in Matson by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 373,077 shares of the shipping company’s stock worth $11,946,000 after buying an additional 18,822 shares during the last quarter. Bank of America Corp DE grew its stake in Matson by 6.0% during the 4th quarter. Bank of America Corp DE now owns 344,947 shares of the shipping company’s stock worth $11,045,000 after buying an additional 19,599 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in Matson by 361.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,926 shares of the shipping company’s stock worth $446,000 after buying an additional 10,908 shares during the last quarter. Institutional investors own 86.92% of the company’s stock.

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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