Matson (NYSE:MATX) Sets New 1-Year High - Still a Buy?

Key Points

• Shares of Matson hit a new 52-week high at $178.61; Stephens lifted its price target to $213 but the consensus rating is a Hold with an average target of $156.25, below the current price.
• Matson reported quarterly EPS of $4.60, beating estimates by $0.91, with revenue of $851.9M slightly above forecasts but down 4.3% year‑over‑year; the company trades at a P/E of about 12.8 and has a $5.44B market cap.
• Insiders sold 42,550 shares (~$7.03M) over the past three months while institutional investors own roughly 84.8% of the stock; Matson pays a $0.36 quarterly dividend (about a 0.8% yield) with a low payout ratio (~10%).

Shares of Matson, Inc. (NYSE:MATX - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $178.61 and last traded at $178.4330, with a volume of 38338 shares trading hands. The stock had previously closed at $174.63.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MATX shares. Stephens lifted their price objective on Matson from $190.00 to $213.00 and gave the company an "overweight" rating in a report on Wednesday, January 21st. Wolfe Research restated an "outperform" rating and issued a $167.00 price objective on shares of Matson in a report on Thursday, January 8th. Weiss Ratings restated a "hold (c)" rating on shares of Matson in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $156.25.

Matson Price Performance

The firm has a market capitalization of $5.44 billion, a P/E ratio of 12.81 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The stock's fifty day simple moving average is $163.13 and its 200 day simple moving average is $133.77.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, February 24th. The shipping company reported $4.60 EPS 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 business had revenue of $851.90 million during the quarter, compared to the consensus estimate of $847.30 million. During the same period in the previous year, the company posted $3.80 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. Matson's payout ratio is presently 10.33%.

Insider Buying and Selling at Matson

In other news, SVP Kuuhaku T. Park sold 2,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $169.79, for a total transaction of $339,580.00. Following the sale, the senior vice president owned 13,484 shares in the company, valued at approximately $2,289,448.36. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Scott sold 2,509 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $155.00, for a total value of $388,895.00. Following the sale, the senior vice president owned 14,533 shares in the company, valued at $2,252,615. The trade was a 14.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 42,550 shares of company stock valued at $7,034,602. Insiders own 2.51% of the company's stock.

Institutional Investors Weigh In On Matson

A number of large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after buying an additional 94 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in Matson by 0.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company's stock valued at $3,639,000 after buying an additional 109 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Matson by 3.3% in the third quarter. Verdence Capital Advisors LLC now owns 3,611 shares of the shipping company's stock valued at $354,000 after buying an additional 116 shares during the last quarter. Federated Hermes Inc. boosted its position in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after buying an additional 138 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in Matson by 1.8% in the third quarter. Perigon Wealth Management LLC now owns 8,177 shares of the shipping company's stock valued at $806,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

About Matson

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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