Matson (NYSE:MATX) Sets New 12-Month High - Time to Buy?

Key Points

• Matson shares hit a new 52-week high, trading as high as $190 before easing slightly, reflecting recent momentum in the stock.
• Analysts remain cautiously bullish: coverage is split between Buy and Hold ratings, with JPMorgan setting a $230 price target and the consensus view at “Moderate Buy.”
• Recent earnings beat estimates as Matson reported $1.85 EPS versus $1.65 expected, while also announcing a quarterly dividend of $0.36 per share payable June 4.

Matson, Inc. (NYSE:MATX - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $190.00 and last traded at $186.1010, with a volume of 64675 shares changing hands. The stock had previously closed at $188.62.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MATX. Stephens upped their price objective on shares of Matson from $190.00 to $213.00 and gave the company an "overweight" rating in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. JPMorgan Chase & Co. began coverage on shares of Matson in a research report on Monday, April 27th. They issued an "overweight" rating and a $230.00 price objective for the company. Finally, Zacks Research raised shares of Matson to a "hold" rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Matson currently has a consensus rating of "Moderate Buy" and an average target price of $181.25.

Matson Stock Down 2.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm's 50-day moving average price is $169.62 and its 200 day moving average price is $147.14. The firm has a market cap of $5.58 billion, a P/E ratio of 13.55 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. The firm had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. Matson's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. On average, equities research analysts expect that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, May 7th. This represents a $1.44 annualized dividend and a yield of 0.8%. Matson's dividend payout ratio is 10.58%.

Insider Activity

In other Matson news, SVP Christopher A. Scott sold 1,520 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the sale, the senior vice president owned 9,708 shares in the company, valued at approximately $1,757,633.40. This trade represents a 13.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley D. Tilden sold 1,594 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $181.85, for a total transaction of $289,868.90. Following the completion of the sale, the director owned 7,555 shares in the company, valued at $1,373,876.75. The trade was a 17.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,513 shares of company stock valued at $10,635,702 over the last quarter. Corporate insiders own 2.51% of the company's stock.

Institutional Investors Weigh In On Matson

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Matson by 12.6% in the first quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company's stock valued at $32,940,000 after purchasing an additional 22,516 shares during the period. Edgestream Partners L.P. increased its stake in shares of Matson by 24.0% in the first quarter. Edgestream Partners L.P. now owns 45,745 shares of the shipping company's stock valued at $7,499,000 after purchasing an additional 8,860 shares during the period. Amundi increased its stake in shares of Matson by 26.4% in the first quarter. Amundi now owns 4,821 shares of the shipping company's stock valued at $790,000 after purchasing an additional 1,008 shares during the period. California State Teachers Retirement System increased its stake in shares of Matson by 30.9% during the first quarter. California State Teachers Retirement System now owns 11,506 shares of the shipping company's stock valued at $1,886,000 after acquiring an additional 2,718 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Matson by 15.6% during the first quarter. Empowered Funds LLC now owns 22,840 shares of the shipping company's stock valued at $3,744,000 after acquiring an additional 3,090 shares during the period. Institutional investors and hedge funds 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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