Matson (NYSE:MATX) Hits New 52-Week High at $130.08

Matson, Inc. (NYSE:MATX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $130.08 and last traded at $129.90, with a volume of 58553 shares. The stock had previously closed at $126.15.

Analysts Set New Price Targets

MATX has been the topic of several recent analyst reports. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a research note on Monday. Stephens reaffirmed an “overweight” rating and set a $135.00 price objective on shares of Matson in a research report on Friday, May 24th. Finally, Stifel Nicolaus lifted their price objective on Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st.

Matson Stock Up 0.4 %

The company’s fifty day moving average price is $117.04 and its 200-day moving average price is $113.34. The stock has a market capitalization of $4.60 billion, a PE ratio of 15.51 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Matson had a net margin of 9.61% and a return on equity of 12.66%. The firm had revenue of $722.10 million during the quarter, compared to analyst estimates of $730.44 million. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Analysts forecast that Matson, Inc. will post 8.74 earnings per share for the current year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%. Matson’s payout ratio is currently 15.09%.

Insider Buying and Selling

In related news, SVP John Warren Sullivan sold 893 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the transaction, the senior vice president now directly owns 13,495 shares in the company, valued at approximately $1,492,547. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matson news, SVP John Warren Sullivan sold 893 shares of Matson stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the sale, the senior vice president now owns 13,495 shares of the company’s stock, valued at approximately $1,492,547. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Richard S. Kinney sold 1,792 shares of Matson stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $115.11, for a total transaction of $206,277.12. Following the completion of the sale, the senior vice president now directly owns 9,588 shares of the company’s stock, valued at approximately $1,103,674.68. The disclosure for this sale can be found here. Insiders sold a total of 5,485 shares of company stock worth $619,987 in the last three months. Insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently modified their holdings of the business. Deutsche Bank AG increased its stake in shares of Matson by 14.6% in the 3rd quarter. Deutsche Bank AG now owns 16,707 shares of the shipping company’s stock worth $1,482,000 after purchasing an additional 2,133 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Matson by 25.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 60,648 shares of the shipping company’s stock worth $5,381,000 after purchasing an additional 12,285 shares in the last quarter. FMR LLC increased its stake in shares of Matson by 36.2% in the 3rd quarter. FMR LLC now owns 94,448 shares of the shipping company’s stock worth $8,379,000 after purchasing an additional 25,121 shares in the last quarter. Invesco Ltd. increased its stake in shares of Matson by 12.6% in the 3rd quarter. Invesco Ltd. now owns 285,314 shares of the shipping company’s stock worth $25,313,000 after purchasing an additional 31,833 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Matson by 94.8% in the 3rd quarter. Hsbc Holdings PLC now owns 21,440 shares of the shipping company’s stock worth $1,911,000 after purchasing an additional 10,433 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.