Matson, Inc. (NYSE:MATX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus: Seven analysts rate Matson a "Hold" (four holds, three buys) with an average 12‑month target of $171, though some brokers are more bullish — JPMorgan initiated coverage at "Overweight" with a $230 target and Stephens raised its target to $213.
• Insider selling and ownership: Company insiders sold 42,550 shares worth about $7.03 million over the past three months, trimming individual positions by ~26–28%; insiders own 2.51% of the stock while institutional investors hold about 84.76%.
• Recent results and payout: Matson reported Q EPS of $4.60 (vs. $3.69 est.) and revenue of $851.9M (down 4.3% YoY but slightly above expectations), and declared a quarterly dividend of $0.36 per share ($1.44 annual, ~0.8% yield).

Matson, Inc. (NYSE:MATX - Get Free Report) has been assigned an average recommendation of "Hold" from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $171.00.

MATX has been the topic of a number of research reports. JPMorgan Chase & Co. started coverage on Matson in a research note on Monday. They set an "overweight" rating and a $230.00 price target on the stock. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Wolfe Research reissued an "outperform" rating and issued a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Finally, Stephens boosted their target price on shares of Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 21st.

Insider Buying and Selling at Matson

In related news, EVP Peter T. Heilmann sold 13,000 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total value of $2,150,980.00. Following the sale, the executive vice president owned 32,679 shares in the company, valued at $5,407,067.34. This represents a 28.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John P. Lauer sold 8,603 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $166.13, for a total value of $1,429,216.39. Following the completion of the transaction, the executive vice president directly owned 23,738 shares of the company's stock, valued at $3,943,593.94. The trade was a 26.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,550 shares of company stock worth $7,034,602. Corporate insiders own 2.51% of the company's stock.

Institutional Investors Weigh In On Matson

Several institutional investors and hedge funds have recently made changes to their positions in MATX. Millennium Management LLC increased its holdings in Matson by 144.9% during the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company's stock valued at $44,872,000 after acquiring an additional 269,310 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Matson in the third quarter valued at about $26,415,000. Norges Bank acquired a new stake in shares of Matson in the fourth quarter valued at approximately $17,276,000. Ameriprise Financial Inc. grew its position in shares of Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company's stock valued at $65,770,000 after purchasing an additional 128,994 shares during the last quarter. Finally, Royce & Associates LP purchased a new position in shares of Matson during the 3rd quarter worth approximately $9,503,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Trading Up 0.7%

NYSE:MATX opened at $174.53 on Friday. The stock has a market cap of $5.31 billion, a P/E ratio of 12.52 and a beta of 1.33. Matson has a 1 year low of $86.97 and a 1 year high of $180.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day simple moving average of $165.32 and a 200-day simple moving average of $139.10.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, topping analysts' consensus estimates of $3.69 by $0.91. Matson had a net margin of 13.30% and a return on equity of 16.63%. The company had revenue of $851.90 million for the quarter, compared to analysts' expectations of $847.30 million. During the same quarter last year, the company earned $3.80 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Matson will post 13.79 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson's dividend payout ratio (DPR) is presently 10.33%.

Matson Company Profile

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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