Matson, Inc. (NYSE:MATX) Raises Dividend to $0.36 Per Share

Matson, Inc. (NYSE:MATX - Get Free Report) declared a quarterly dividend on Thursday, June 26th, RTT News reports. Investors of record on Thursday, August 7th will be paid a dividend of 0.36 per share by the shipping company on Thursday, September 4th. This represents a $1.44 dividend on an annualized basis and a yield of 1.33%. This is a 5.9% increase from Matson's previous quarterly dividend of $0.34.

Matson has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Matson to earn $10.21 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 13.3%.

Matson Stock Performance

Shares of NYSE MATX traded down $0.10 during mid-day trading on Thursday, hitting $108.68. The company had a trading volume of 306,672 shares, compared to its average volume of 345,938. Matson has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $3.55 billion, a P/E ratio of 7.17 and a beta of 1.31. The business's 50-day simple moving average is $109.08 and its 200-day simple moving average is $125.20.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a return on equity of 20.02% and a net margin of 14.72%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts predict that Matson will post 13.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 2,752 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the completion of the transaction, the director now owns 8,180 shares of the company's stock, valued at approximately $914,196.80. The trade was a 50.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leonard P. Isotoff sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total value of $55,735.00. Following the completion of the transaction, the senior vice president now owns 5,644 shares of the company's stock, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently added to or reduced their stakes in MATX. Millennium Management LLC raised its stake in Matson by 7.1% during the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company's stock valued at $13,154,000 after buying an additional 6,778 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Matson by 8.3% in the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company's stock worth $5,300,000 after acquiring an additional 3,155 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company's stock valued at $3,135,000 after acquiring an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company's stock worth $2,501,000 after purchasing an additional 863 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Matson during the 1st quarter valued at about $78,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating and issued a $135.00 price target on shares of Matson in a report on Wednesday, June 11th. Stephens cut their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $138.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.