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

Matson, Inc. (NYSE:MATX) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $181.25.

A number of equities research analysts have issued reports on MATX shares. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. started coverage on Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th.

Matson Price Performance

NYSE:MATX opened at $195.05 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.90 billion, a P/E ratio of 14.33 and a beta of 1.29. Matson has a 12 month low of $86.97 and a 12 month high of $203.08. The business’s 50-day moving average is $183.97 and its 200 day moving average is $161.73.

Matson (NYSE:MATX) last posted its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Matson will post 13.96 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.7%. Matson’s dividend payout ratio is 10.58%.

Insider Buying and Selling at Matson

In other news, SVP Grace M. Cerocke sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the transaction, the senior vice president owned 17,986 shares of the company’s stock, valued at approximately $3,301,690.02. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Laura L. Rascon sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the transaction, the senior vice president directly owned 15,656 shares in the company, valued at approximately $2,951,625.68. This represents a 15.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 23,963 shares of company stock valued at $4,349,268. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MATX. Millennium Management LLC grew its stake in shares of Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Matson during the third quarter valued at approximately $26,415,000. Encompass Capital Advisors LLC bought a new position in shares of Matson during the first quarter valued at approximately $32,761,000. Norges Bank bought a new position in shares of Matson during the fourth quarter valued at approximately $17,276,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

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.