Matson Inc (MATX) Receives $38.67 Average PT from Analysts

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Shares of Matson Inc (NYSE:MATX) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.67.

Several brokerages recently weighed in on MATX. Stifel Nicolaus set a $37.00 price objective on shares of Matson and gave the company a “hold” rating in a research report on Friday, February 22nd. Zacks Investment Research raised shares of Matson from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Stephens raised shares of Matson from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 25th.

In other news, President Ronald J. Forest sold 1,000 shares of Matson stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $33.69, for a total value of $33,690.00. Following the transaction, the president now owns 63,870 shares of the company’s stock, valued at $2,151,780.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Chun sold 4,398 shares of Matson stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.79, for a total transaction of $153,006.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,398 shares of company stock worth $255,366. Insiders own 2.48% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MATX. BlackRock Inc. grew its stake in shares of Matson by 4.3% in the third quarter. BlackRock Inc. now owns 6,497,106 shares of the shipping company’s stock worth $257,544,000 after acquiring an additional 268,422 shares during the last quarter. LSV Asset Management grew its stake in shares of Matson by 132.7% in the fourth quarter. LSV Asset Management now owns 467,842 shares of the shipping company’s stock worth $14,980,000 after acquiring an additional 266,830 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Matson in the fourth quarter worth $8,454,000. WINTON GROUP Ltd acquired a new stake in Matson during the fourth quarter worth $7,487,000. Finally, Bridgeway Capital Management Inc. boosted its stake in Matson by 333.4% during the third quarter. Bridgeway Capital Management Inc. now owns 245,690 shares of the shipping company’s stock worth $9,739,000 after buying an additional 189,000 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors.

Shares of NYSE MATX traded up $0.29 during mid-day trading on Friday, reaching $36.79. The company had a trading volume of 1,391 shares, compared to its average volume of 160,135. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.86 and a quick ratio of 0.87. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.53 and a beta of 1.49. Matson has a 12-month low of $27.73 and a 12-month high of $41.96.

Matson (NYSE:MATX) last posted its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $564.90 million during the quarter, compared to analyst estimates of $558.44 million. Matson had a net margin of 4.90% and a return on equity of 15.13%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, analysts predict that Matson will post 2.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 7th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, February 6th. Matson’s payout ratio is presently 33.20%.

Matson Company Profile

Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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