Matson (NYSE:MATX) Sets New 12-Month Low Following Analyst Downgrade

Matson, Inc. (NYSE:MATX - Get Free Report) reached a new 52-week low during mid-day trading 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.

A number of other equities analysts also recently weighed in on MATX. Stephens cut their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating and issued a $125.00 price target on shares of Matson in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Matson has an average rating of "Hold" and a consensus price target of $135.00.

Insider Buying and Selling at Matson

In other news, SVP Richard S. Kinney sold 1,997 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, the senior vice president now directly owns 8,425 shares of the company's stock, valued at approximately $1,155,151.75. This represents a 19.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 25,192 shares in the company, valued at approximately $3,394,118.16. The trade was a 24.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MATX. Ritholtz Wealth Management increased its position in shares of Matson by 17.8% in the fourth quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company's stock worth $2,183,000 after purchasing an additional 2,448 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Matson during the fourth quarter valued at approximately $9,788,000. Nisa Investment Advisors LLC grew its position in Matson by 0.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock valued at $2,244,000 after acquiring an additional 80 shares during the last quarter. Paradiem LLC grew its position in Matson by 2.2% during the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock valued at $12,140,000 after acquiring an additional 1,909 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Matson by 2.9% during the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock valued at $401,000 after acquiring an additional 85 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Price 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 business's 50-day simple moving average is $114.90 and its 200 day simple moving average is $134.36. The firm has a market capitalization of $3.75 billion, a P/E ratio of 9.49 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $782.00 million during the quarter, compared to analysts' expectations of $818.07 million. During the same period in the previous year, the business earned $1.04 EPS. The business's revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, May 8th. 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.