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

Matson, Inc. (NYSE:MATX)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $198.13 and last traded at $197.8850, with a volume of 12251 shares trading hands. The stock had previously closed at $193.43.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MATX. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research upgraded shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Matson Stock Up 1.4%

The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 14.83 and a beta of 1.29. The business’s 50-day moving average is $179.97 and its two-hundred day moving average is $156.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. Matson’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. On average, equities analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Insider Buying and Selling at Matson

In related news, SVP Christopher A. Scott sold 1,520 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $181.05, for a total transaction of $275,196.00. Following the completion of the sale, the senior vice president directly owned 9,708 shares of the company’s stock, valued at approximately $1,757,633.40. This represents a 13.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kuuhaku T. Park sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $450,475.00. Following the sale, the senior vice president directly owned 10,984 shares of the company’s stock, valued at approximately $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,963 shares of company stock worth $4,349,268 in the last quarter. Company insiders own 2.51% of the company’s stock.

Institutional Trading of Matson

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Matson by 12.6% during the 1st quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company’s stock worth $32,940,000 after purchasing an additional 22,516 shares in the last quarter. Edgestream Partners L.P. increased its stake in Matson by 24.0% during the 1st quarter. Edgestream Partners L.P. now owns 45,745 shares of the shipping company’s stock worth $7,499,000 after purchasing an additional 8,860 shares in the last quarter. Amundi increased its stake in Matson by 26.4% during the 1st quarter. Amundi now owns 4,821 shares of the shipping company’s stock worth $790,000 after purchasing an additional 1,008 shares in the last quarter. California State Teachers Retirement System increased its stake in Matson by 30.9% during the 1st quarter. California State Teachers Retirement System now owns 11,506 shares of the shipping company’s stock worth $1,886,000 after purchasing an additional 2,718 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Matson by 15.6% during the 1st quarter. Empowered Funds LLC now owns 22,840 shares of the shipping company’s stock worth $3,744,000 after purchasing an additional 3,090 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Matson Company Profile

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.