Matson (NYSE:MATX) Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Matson (NYSE:MATXGet Rating) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

Separately, Stifel Nicolaus lowered Matson from a buy rating to a hold rating and lowered their price objective for the company from $131.00 to $93.00 in a report on Tuesday.

Matson Stock Performance

Shares of Matson stock opened at $82.99 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.76 and a quick ratio of 1.43. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 2.47 and a beta of 1.20. The business has a 50-day moving average of $80.14 and a 200 day moving average of $91.37. Matson has a 12 month low of $68.36 and a 12 month high of $125.34.

Matson (NYSE:MATXGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The shipping company reported $8.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.13 by $0.10. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Matson had a net margin of 29.33% and a return on equity of 79.22%. The firm’s quarterly revenue was up 63.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 earnings per share. As a group, sell-side analysts forecast that Matson will post 29.88 earnings per share for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 4th will be paid a $0.31 dividend. This is a boost from Matson’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.49%. Matson’s dividend payout ratio is presently 3.69%.

Insider Activity

In other news, CEO Matthew J. Cox sold 2,174 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $89.23, for a total value of $193,986.02. Following the completion of the sale, the chief executive officer now owns 272,802 shares in the company, valued at $24,342,122.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Matson news, SVP Christopher A. Scott sold 339 shares of the stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $83.94, for a total transaction of $28,455.66. Following the transaction, the senior vice president now directly owns 9,994 shares of the company’s stock, valued at $838,896.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Cox sold 2,174 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $89.23, for a total value of $193,986.02. Following the transaction, the chief executive officer now owns 272,802 shares in the company, valued at approximately $24,342,122.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,983 shares of company stock worth $1,872,821. 1.90% of the stock is owned by company insiders.

Institutional Trading of Matson

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ellevest Inc. raised its stake in shares of Matson by 43.8% during the first quarter. Ellevest Inc. now owns 358 shares of the shipping company’s stock worth $43,000 after buying an additional 109 shares during the last quarter. Chatham Capital Group Inc. increased its position in shares of Matson by 0.3% during the second quarter. Chatham Capital Group Inc. now owns 42,296 shares of the shipping company’s stock worth $3,083,000 after acquiring an additional 110 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Matson by 4.0% in the first quarter. Evergreen Capital Management LLC now owns 2,995 shares of the shipping company’s stock valued at $361,000 after purchasing an additional 115 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in Matson by 80.3% during the first quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock worth $42,000 after purchasing an additional 155 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Matson by 1.1% in the 1st quarter. Sei Investments Co. now owns 15,665 shares of the shipping company’s stock valued at $1,890,000 after buying an additional 178 shares during the last quarter. Institutional investors own 85.85% of the company’s stock.

About Matson

(Get Rating)

Matson, Inc, together with its subsidiaries, 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.

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