Matson (NYSE:MATX) Stock Crosses Above Two Hundred Day Moving Average of $38.08

Matson Inc (NYSE:MATX) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.08 and traded as high as $39.11. Matson shares last traded at $38.42, with a volume of 45,875 shares trading hands.

Several research firms have recently commented on MATX. ValuEngine lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Sidoti raised their price objective on shares of Matson from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Zacks Investment Research lowered shares of Matson from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.00.

The business’s 50 day moving average is $38.86 and its 200-day moving average is $38.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $1.65 billion, a PE ratio of 15.17, a P/E/G ratio of 3.58 and a beta of 1.52.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, November 7th. The shipping company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Matson had a net margin of 3.94% and a return on equity of 11.39%. The company had revenue of $572.10 million during the quarter, compared to the consensus estimate of $574.44 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Matson Inc will post 1.95 EPS for the current fiscal year.

In related news, SVP Peter T. Heilmann sold 4,460 shares of Matson stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.33, for a total value of $175,411.80. Following the completion of the transaction, the senior vice president now owns 40,517 shares in the company, valued at $1,593,533.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark H. Fukunaga purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $36.88 per share, with a total value of $110,640.00. Following the purchase, the director now directly owns 16,059 shares of the company’s stock, valued at $592,255.92. The disclosure for this purchase can be found here. Insiders sold 13,732 shares of company stock valued at $530,748 in the last quarter. 2.00% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MATX. US Bancorp DE lifted its position in shares of Matson by 38.3% during the 2nd quarter. US Bancorp DE now owns 1,051 shares of the shipping company’s stock worth $41,000 after buying an additional 291 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Matson during the 2nd quarter worth approximately $78,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Matson during the 2nd quarter worth approximately $82,000. Fruth Investment Management purchased a new stake in shares of Matson during the 4th quarter worth approximately $236,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Matson during the 2nd quarter worth approximately $266,000. Institutional investors and hedge funds own 86.96% of the company’s stock.

About Matson (NYSE:MATX)

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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