Matson (NYSE:MATX) Hits New 52-Week High - Should You Buy?

Key Points

• Matson shares reached a new 52-week high, trading as high as $232.42, while the stock’s average analyst rating remains “Buy” with an average price target of $232.33. JPMorgan and Stephens recently raised their targets to $270 and $260, respectively.
• The company reported strong quarterly results, with EPS of $4.27 and revenue of $969.4 million, beating estimates and representing 16.7% year-over-year revenue growth.
• Matson increased its quarterly dividend to $0.38 per share, but recent insider selling— totaling about $2.7 million over 90 days—may be a consideration for investors evaluating the stock after its sharp run-up.

Matson, Inc. (NYSE:MATX - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $232.42 and last traded at $230.1370, with a volume of 16961 shares. The stock had previously closed at $227.99.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MATX shares. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Zacks Research raised shares of Matson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Finally, Stephens increased their price target on shares of Matson from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $232.33.

Matson Trading Up 0.5%

The stock has a market cap of $6.85 billion, a PE ratio of 15.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average of $214.24 and a two-hundred day moving average of $189.71.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.48. The company had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%.Matson's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.92 earnings per share. Sell-side analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were given a dividend of $0.38 per share. This is a positive change from Matson's previous quarterly dividend of $0.36. The ex-dividend date was Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Matson's payout ratio is 10.16%.

Insider Transactions at Matson

In other Matson news, SVP Leonard P. Isotoff sold 1,250 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total transaction of $260,375.00. Following the transaction, the senior vice president directly owned 6,527 shares of the company's stock, valued at $1,359,574.10. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter T. Heilmann sold 5,000 shares of Matson stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the completion of the sale, the executive vice president owned 20,506 shares in the company, valued at approximately $4,514,395.90. This trade represents a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,462 shares of company stock worth $2,695,832 in the last ninety days. Company insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MATX. Allworth Financial LP acquired a new stake in Matson in the 2nd quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in shares of Matson during the second quarter valued at approximately $44,000. SouthState Bank Corp purchased a new position in shares of Matson in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC purchased a new position in shares of Matson in the second quarter valued at approximately $28,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

About Matson

Matson, Inc is a transportation and logistics company that provides ocean shipping and related supply-chain services. Through its Matson Navigation subsidiary, the company transports containerized and non-containerized freight, automobiles, food, household goods, construction materials and other cargo.

Matson operates ocean transportation services connecting the U.S. mainland with Hawaii, Alaska and select destinations in the South Pacific and Micronesia. The company also provides expedited service between China and the United States and maintains logistics operations that support domestic and international freight movement.

Matson Logistics offers intermodal transportation, freight forwarding, warehousing, supply-chain management and other distribution services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.