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) was the target of a large increase in short interest in 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. Based on an average daily volume of 368,700 shares, the short-interest ratio is presently 4.7 days. Currently, 5.6% of the shares of the stock are short sold. Currently, 5.6% of the shares of the stock are short sold. Based on an average daily volume of 368,700 shares, the short-interest ratio is presently 4.7 days.

Matson Stock Down 2.4%

NYSE:MATX traded down $2.54 on Friday, hitting $103.37. The stock had a trading volume of 226,158 shares, compared to its average volume of 291,753. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson has a 52 week low of $91.75 and a 52 week high of $169.12. The business's fifty day moving average is $107.15 and its 200 day moving average is $112.28. The company has a market cap of $3.29 billion, a PE ratio of 6.99 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm had revenue of $830.50 million during the quarter, compared to analysts' expectations of $727.30 million. During the same quarter last year, the firm posted $3.31 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Matson will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president owned 13,441 shares of the company's stock, valued at $1,477,703.54. This represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matson

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in shares of Matson by 72.3% in the second quarter. Osaic Holdings Inc. now owns 10,630 shares of the shipping company's stock valued at $1,211,000 after purchasing an additional 4,459 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Matson by 13.6% in the second quarter. Hohimer Wealth Management LLC now owns 2,490 shares of the shipping company's stock valued at $277,000 after buying an additional 298 shares during the period. Hudson Bay Capital Management LP raised its stake in shares of Matson by 189.3% in the second quarter. Hudson Bay Capital Management LP now owns 16,028 shares of the shipping company's stock valued at $1,785,000 after buying an additional 10,488 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Matson in the second quarter valued at $1,325,000. Finally, Public Sector Pension Investment Board raised its stake in shares of Matson by 4.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 124,783 shares of the shipping company's stock valued at $13,895,000 after purchasing an additional 5,155 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

About Matson

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.