Matson, Inc. (NYSE:MATX) has been assigned an average broker rating score of 2.20 (Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company. Matson’s rating score has improved by 12% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price target of $43.33 for the company and are predicting that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Matson an industry rank of 156 out of 265 based on the ratings given to related companies.
MATX has been the subject of several research analyst reports. Zacks Investment Research downgraded Matson from a “hold” rating to a “sell” rating in a research note on Friday, February 24th. TheStreet downgraded Matson from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd. Finally, Stephens set a $40.00 target price on Matson and gave the stock a “buy” rating in a research note on Saturday, June 10th.
In other Matson news, Director Stanley M. Kuriyama bought 3,300 shares of the stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $29.75 per share, with a total value of $98,175.00. Following the completion of the purchase, the director now owns 32,932 shares in the company, valued at $979,727. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Cox sold 20,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $32.16, for a total value of $643,200.00. Following the transaction, the chief executive officer now directly owns 241,720 shares of the company’s stock, valued at approximately $7,773,715.20. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Matson during the fourth quarter valued at approximately $351,000. Comerica Bank increased its position in shares of Matson by 12.2% in the fourth quarter. Comerica Bank now owns 179,797 shares of the shipping company’s stock valued at $6,505,000 after buying an additional 19,537 shares during the last quarter. State Street Corp increased its position in shares of Matson by 9.5% in the fourth quarter. State Street Corp now owns 1,027,059 shares of the shipping company’s stock valued at $36,347,000 after buying an additional 88,716 shares during the last quarter. Advisory Research Inc. increased its position in shares of Matson by 25.1% in the fourth quarter. Advisory Research Inc. now owns 981,132 shares of the shipping company’s stock valued at $34,723,000 after buying an additional 196,998 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in shares of Matson during the fourth quarter valued at approximately $188,000. 84.67% of the stock is owned by hedge funds and other institutional investors.
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Shares of Matson (NYSE MATX) traded up 0.87% during midday trading on Monday, hitting $30.17. 310,072 shares of the company were exchanged. Matson has a one year low of $28.24 and a one year high of $43.00. The company has a market capitalization of $1.30 billion, a P/E ratio of 18.86 and a beta of 1.15. The company has a 50-day moving average of $30.56 and a 200 day moving average of $33.50.
Matson (NYSE:MATX) last posted its quarterly earnings results on Wednesday, May 3rd. The shipping company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $474.40 million during the quarter, compared to the consensus estimate of $417.03 million. Matson had a return on equity of 15.16% and a net margin of 3.54%. Matson’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities research analysts expect that Matson will post $1.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.52%. The ex-dividend date was Tuesday, May 9th. Matson’s payout ratio is 47.80%.
Matson, Inc is a transportation company in the Marine industry.
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