Matson, Inc. (NYSE:MATX) Short Interest Update

Key Points

• Matson, Inc. (NYSE:MATX) experienced a 31.6% increase in short interest from July to August, totaling 1,750,000 shares with a short-interest ratio of 4.7 days.
• The company recently announced a dividend increase, with a new quarterly dividend of $0.36 per share, up from $0.34, yielding an annualized total of $1.44.
• Matson reported a quarterly earnings per share (EPS) of $2.92, exceeding estimates, but saw a 2% decline in year-over-year revenue for that period.

Matson, Inc. (NYSE:MATX - Get Free Report) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 1,750,000 shares, an increase of 31.6% from the July 31st total of 1,330,000 shares. Approximately 5.6% of the company's stock are short sold. Based on an average daily trading volume, of 368,700 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily trading volume, of 368,700 shares, the days-to-cover ratio is presently 4.7 days. Approximately 5.6% of the company's stock are short sold.

Matson Stock Performance

Shares of NYSE:MATX traded down $2.54 on Friday, hitting $103.37. 226,158 shares of the company were exchanged, compared to its average volume of 291,753. Matson has a 1-year low of $91.75 and a 1-year high of $169.12. The stock's 50 day moving average price is $107.15 and its 200 day moving average price is $112.49. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.29 billion, a P/E ratio of 6.99 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same period in the previous year, the firm posted $3.31 earnings per share. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Matson will post 13.27 EPS for the current year.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, August 7th. This is an increase from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.4%. Matson's payout ratio is presently 9.74%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a "hold" rating and issued a $115.00 target price on shares of Matson in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $131.67.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the transaction, the senior vice president directly owned 13,441 shares of the company's stock, valued at $1,477,703.54. This trade represents a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Matson by 11.7% during the first quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company's stock worth $176,000 after purchasing an additional 144 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Matson during the first quarter worth $507,000. Raymond James Financial Inc. raised its holdings in shares of Matson by 91.6% during the first quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company's stock worth $7,883,000 after purchasing an additional 29,400 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Matson by 8.9% during the first quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company's stock worth $12,390,000 after purchasing an additional 7,920 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Matson by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company's stock worth $59,188,000 after purchasing an additional 45,296 shares during the last quarter. Hedge funds and other institutional investors 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.