Matson (NYSE:MATX) Sets New 1-Year High – What’s Next?

Matson, Inc. (NYSE:MATX)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $165.06 and last traded at $165.00, with a volume of 2917 shares changing hands. The stock had previously closed at $159.23.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Matson Price Performance

The company has a market cap of $5.51 billion, a price-to-earnings ratio of 13.25 and a beta of 1.06. The company’s 50 day moving average price is $136.73 and its 200 day moving average price is $128.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter in the prior year, the business posted $3.40 earnings per share. Matson’s revenue was up 16.3% compared to the same quarter last year. Equities research analysts forecast that Matson, Inc. will post 12.11 earnings per share for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.82%. Matson’s payout ratio is 11.31%.

Insider Activity at Matson

In other news, SVP Laura L. Rascon sold 744 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the sale, the senior vice president now directly owns 12,369 shares in the company, valued at $1,597,208.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Laura L. Rascon sold 744 shares of Matson stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the sale, the senior vice president now owns 12,369 shares in the company, valued at approximately $1,597,208.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares in the company, valued at approximately $30,043,710.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,712 shares of company stock valued at $2,855,398. Insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On Matson

Several hedge funds have recently made changes to their positions in the business. TruNorth Capital Management LLC purchased a new position in Matson during the second quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new position in shares of Matson during the 2nd quarter worth about $34,000. International Assets Investment Management LLC acquired a new position in Matson during the second quarter worth approximately $39,000. Harbor Capital Advisors Inc. purchased a new position in Matson during the third quarter worth approximately $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Matson in the 1st quarter valued at $71,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.