Key Points
- Matson SVP Christopher Scott sold 3,305 shares on May 8 at an average price of $180.14, for total proceeds of about $595,363. After the sale, he still held 11,228 shares.
- Matson reported better-than-expected quarterly earnings, posting $1.85 EPS versus the $1.65 consensus estimate, though revenue of $757.8 million came in below expectations and fell 3.1% year over year.
- The company also declared a quarterly dividend of $0.36 per share, payable June 4, which works out to an annualized yield of about 0.8%.
Matson, Inc. (NYSE:MATX - Get Free Report) Director Bradley Tilden sold 1,594 shares of Matson stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $181.85, for a total value of $289,868.90. Following the transaction, the director owned 7,555 shares of the company's stock, valued at approximately $1,373,876.75. This represents a 17.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Matson Stock Down 0.5%
Shares of MATX stock opened at $181.83 on Tuesday. The stock has a 50 day moving average of $166.89 and a 200 day moving average of $142.89. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.50 billion, a P/E ratio of 13.36 and a beta of 1.30. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $189.99.
Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to analysts' expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.Matson's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $2.18 earnings per share. As a group, sell-side analysts expect that Matson, Inc. will post 13.96 EPS for the current year.
Matson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson's dividend payout ratio (DPR) is currently 10.58%.
Institutional Trading of Matson
Several institutional investors have recently bought and sold shares of MATX. Federated Hermes Inc. grew its holdings in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after purchasing an additional 138 shares during the period. Danske Bank A S acquired a new stake in Matson in the fourth quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Matson in the second quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Matson in the third quarter valued at approximately $30,000. Finally, SouthState Bank Corp acquired a new stake in Matson in the fourth quarter valued at approximately $31,000. 84.76% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Matson in a research report on Monday, April 27th. They set an "overweight" rating and a $230.00 price target for the company. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Stephens raised their price objective on Matson from $190.00 to $213.00 and gave the company an "overweight" rating in a report on Wednesday, January 21st. Finally, Zacks Research raised Matson to a "hold" rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $181.25.
Read Our Latest Stock Report on Matson
About Matson
(
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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.
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