Matson (NYSE:MATX) Trading 6.9% Higher – What’s Next?

Matson, Inc. (NYSE:MATX)’s share price traded up 6.9% on Thursday . The company traded as high as $223.17 and last traded at $223.3450. Approximately 46,675 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 284,627 shares. The stock had previously closed at $208.90.

Analyst Ratings Changes

Several research analysts recently issued reports on MATX shares. Zacks Research raised Matson to a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.25.

Matson Price Performance

The company has a market cap of $6.98 billion, a PE ratio of 16.89 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average of $192.07 and a 200-day moving average of $170.20.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. Equities analysts predict that Matson, Inc. will post 14.16 earnings per share for the current year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Matson’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. Matson’s dividend payout ratio is presently 10.58%.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,520 shares of Matson stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total transaction of $275,196.00. Following the completion of the sale, the senior vice president directly owned 9,708 shares in the company, valued at approximately $1,757,633.40. The trade was a 13.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kuuhaku T. Park sold 2,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the completion of the sale, the senior vice president owned 10,984 shares in the company, valued at $1,979,206.96. The trade was a 18.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,963 shares of company stock valued at $4,349,268 over the last quarter. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Matson

A number of institutional investors have recently modified their holdings of the stock. Danske Bank A S purchased a new position in Matson during the fourth quarter valued at approximately $25,000. SouthState Bank Corp purchased a new position in shares of Matson during the 4th quarter valued at approximately $31,000. Headlands Technologies LLC acquired a new position in shares of Matson in the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in 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 buying an additional 94 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Matson during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About Matson

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.