Matson, Inc. (NYSE:MATX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Matson has a consensus analyst rating of “Moderate Buy” from six brokerages, with an average 1-year price target of $181.25. Recent calls were mixed, including JPMorgan’s overweight rating with a $230 target.
• The stock rose 2.9% and was trading near its 52-week high of $211.52, while the company’s latest earnings beat expectations with $1.85 EPS versus $1.65 expected. Revenue came in below forecasts and was down 3.1% from a year earlier.
• Matson also raised its quarterly dividend to $0.38 per share from $0.36, and recent insider filings show executives sold shares in the past 90 days. Institutional ownership remains high at 84.76%.

Shares of Matson, Inc. (NYSE:MATX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $181.25.

A number of equities research analysts have recently commented on MATX shares. JPMorgan Chase & Co. initiated coverage on Matson in a research report on Monday, April 27th. They set an "overweight" rating and a $230.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Matson in a report on Friday, May 29th. Finally, Zacks Research upgraded Matson to a "hold" rating in a research report on Wednesday, April 29th.

Matson Stock Up 2.9%

MATX stock opened at $211.01 on Wednesday. Matson has a 52 week low of $86.97 and a 52 week high of $211.52. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 15.50 and a beta of 1.28. The firm's 50-day moving average is $191.59 and its two-hundred day moving average is $169.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

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

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 6th. This is a boost from Matson's previous quarterly dividend of $0.36. Matson's dividend payout ratio is presently 10.58%.

Insider Activity at Matson

In other news, SVP Laura L. Rascon sold 2,800 shares of the business'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 transaction of $527,884.00. Following the sale, the senior vice president owned 15,656 shares in the company, valued at $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Grace M. Cerocke sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the sale, the senior vice president owned 17,986 shares of the company's stock, valued at approximately $3,301,690.02. This trade represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety 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 Trading of Matson

Several hedge funds and other institutional investors have recently modified their holdings of MATX. Danske Bank A S acquired a new position in Matson during the fourth quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in Matson during the 2nd quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new position in Matson during the 3rd quarter valued at about $30,000. SouthState Bank Corp purchased a new position in Matson during the 4th quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

About Matson

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.

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