Matson (NYSE:MATX) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Matson (NYSE:MATX) from a hold rating to a buy rating in a research note published on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Matson from a sell rating to a hold rating in a research report on Tuesday.

MATX stock opened at $38.54 on Wednesday. The company has a 50 day simple moving average of $37.88 and a 200 day simple moving average of $37.79. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 3.99 and a beta of 1.59. Matson has a 1 year low of $30.60 and a 1 year high of $42.15. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.68 and a quick ratio of 0.68.

Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, November 7th. The shipping company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. The business had revenue of $572.10 million during the quarter, compared to analysts’ expectations of $574.44 million. Matson had a net margin of 4.15% and a return on equity of 12.30%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, equities research analysts anticipate that Matson will post 2.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, November 6th. Matson’s dividend payout ratio (DPR) is currently 34.78%.

In other Matson news, insider Vic S. Angoco, Jr. sold 16,100 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $35.14, for a total value of $565,754.00. Following the completion of the transaction, the insider now directly owns 43,926 shares in the company, valued at approximately $1,543,559.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Rusty K. Rolfe sold 3,047 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.67, for a total transaction of $123,921.49. Following the completion of the transaction, the senior vice president now owns 56,304 shares of the company’s stock, valued at $2,289,883.68. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its position in shares of Matson by 38.3% during the second quarter. US Bancorp DE now owns 1,051 shares of the shipping company’s stock worth $41,000 after buying an additional 291 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Matson during the second quarter worth $53,000. Tower Research Capital LLC TRC acquired a new stake in shares of Matson during the second quarter worth $78,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Matson during the second quarter worth $82,000. Finally, Fruth Investment Management acquired a new stake in shares of Matson during the second quarter worth $205,000. Hedge funds and other institutional investors own 87.58% of the company’s stock.

About Matson

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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