Brokerages Set Matson, Inc. (NYSE:MATX) PT at $181.25

Shares of Matson, Inc. (NYSE:MATX) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $181.25.

A number of equities analysts have recently commented on MATX shares. JPMorgan Chase & Co. started coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective for the company. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th.

Matson Price Performance

MATX stock opened at $181.42 on Tuesday. The firm has a 50 day moving average of $173.72 and a 200-day moving average of $150.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson has a 12 month low of $86.97 and a 12 month high of $190.00. The firm has a market capitalization of $5.49 billion, a P/E ratio of 13.33 and a beta of 1.30.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. During the same period last year, the business earned $2.18 earnings per share. Matson’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Matson will post 13.96 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Insiders Place Their Bets

In related news, SVP Kuuhaku T. Park sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the sale, the senior vice president directly owned 10,984 shares of the company’s stock, valued at $1,979,206.96. This trade represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Laura L. Rascon sold 540 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $180.83, for a total transaction of $97,648.20. Following the completion of the sale, the senior vice president directly owned 18,456 shares in the company, valued at $3,337,398.48. This represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 63,713 shares of company stock valued at $10,855,986 over the last three months. Corporate insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Matson

Institutional investors and hedge funds have recently bought and sold shares of the stock. Danske Bank A S purchased a new stake in Matson in the fourth quarter valued at approximately $25,000. Federated Hermes Inc. raised its stake in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. SouthState Bank Corp purchased a new position in shares of Matson during the fourth quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in shares of Matson during the second quarter worth approximately $28,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after acquiring an additional 94 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.