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

Matson, Inc. (NYSE:MATX - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,920,000 shares, an increase of 99.4% from the March 31st total of 962,700 shares. Based on an average daily volume of 394,700 shares, the days-to-cover ratio is presently 4.9 days. Approximately 6.0% of the shares of the company are short sold.

Matson Stock Performance

Shares of MATX traded up $3.09 during mid-day trading on Friday, reaching $113.26. 420,750 shares of the company's stock were exchanged, compared to its average volume of 310,783. The business's fifty day simple moving average is $119.68 and its 200-day simple moving average is $135.74. Matson has a 52-week low of $92.90 and a 52-week high of $169.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $3.72 billion, a PE ratio of 9.42 and a beta of 1.12.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million for the quarter, compared to analysts' expectations of $851.78 million. On average, equities research analysts expect that Matson will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.20%. Matson's dividend payout ratio (DPR) is 9.69%.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares of the company's stock, valued at $1,155,151.75. This represents a 19.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. This trade represents a 24.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Matson by 10.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock valued at $40,927,000 after purchasing an additional 26,366 shares in the last quarter. Boston Partners lifted its position in Matson by 5.0% during the 4th quarter. Boston Partners now owns 182,570 shares of the shipping company's stock worth $24,707,000 after acquiring an additional 8,704 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Matson in the fourth quarter valued at approximately $4,328,000. Bryce Point Capital LLC purchased a new stake in shares of Matson during the fourth quarter valued at approximately $544,000. Finally, Forest Avenue Capital Management LP boosted its stake in shares of Matson by 1.5% in the fourth quarter. Forest Avenue Capital Management LP now owns 232,172 shares of the shipping company's stock valued at $31,306,000 after purchasing an additional 3,334 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MATX. Jefferies Financial Group initiated coverage on Matson in a research note on Monday. They issued a "buy" rating and a $125.00 price objective for the company. Stephens lifted their price objective on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Matson has a consensus rating of "Moderate Buy" and an average target price of $153.33.

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.