Matson (NYSE:MATX) Price Target Raised to $111.00

Matson (NYSE:MATX) had its price target lifted by Stifel Nicolaus from $109.00 to $111.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

Separately, StockNews.com raised shares of Matson from a hold rating to a buy rating in a report on Wednesday.

Matson Price Performance

MATX opened at $105.48 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.07. Matson has a 1-year low of $62.71 and a 1-year high of $122.99. The company has a 50-day moving average of $108.91 and a 200-day moving average of $105.79. The company has a market capitalization of $3.64 billion, a P/E ratio of 12.59 and a beta of 1.12.

Matson (NYSE:MATX) last issued its earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. Equities analysts expect that Matson will post 8.2 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. Matson’s payout ratio is 15.27%.

Insider Activity at Matson

In other Matson news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $107.83, for a total transaction of $126,268.93. Following the transaction, the senior vice president now owns 12,958 shares of the company’s stock, valued at approximately $1,397,261.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.32% of the company’s stock.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently modified their holdings of MATX. SG Americas Securities LLC acquired a new stake in Matson during the 3rd quarter worth about $1,107,000. Simplicity Solutions LLC increased its holdings in shares of Matson by 13.0% in the 3rd quarter. Simplicity Solutions LLC now owns 4,866 shares of the shipping company’s stock valued at $432,000 after purchasing an additional 561 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Matson by 32.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,911 shares of the shipping company’s stock worth $524,000 after purchasing an additional 1,463 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Matson by 6.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock worth $324,000 after purchasing an additional 213 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Matson by 11.9% during the third quarter. TD Asset Management Inc now owns 22,600 shares of the shipping company’s stock worth $2,005,000 after purchasing an additional 2,400 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.