Matson (NYSE:MATX) Hits New 52-Week Low After Analyst Downgrade

Matson, Inc. (NYSE:MATX - Get Free Report)'s share price reached a new 52-week low on Wednesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $91.75 and last traded at $93.00, with a volume of 282018 shares. The stock had previously closed at $93.11.

Several other brokerages have also issued reports on MATX. Stephens decreased their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday. Stifel Nicolaus decreased their target price on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $125.00 price target on shares of Matson in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $135.00.

Insider Buying and Selling

In other news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the sale, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction 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. The trade was a 19.16 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. Vanguard Group Inc. increased its position in shares of Matson by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock valued at $542,759,000 after acquiring an additional 11,357 shares during the last quarter. American Century Companies Inc. increased its position in shares of Matson by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company's stock worth $146,562,000 after purchasing an additional 106,490 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Matson by 9.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock worth $141,551,000 after purchasing an additional 91,172 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Matson by 8.3% in the 4th quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock valued at $101,590,000 after buying an additional 58,027 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Matson by 21.5% in the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock valued at $89,432,000 after buying an additional 117,545 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average is $114.90 and its two-hundred day moving average is $134.35. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.00 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 1.41%. Matson's dividend payout ratio is currently 8.96%.

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.