Key Points
- Matson SVP Kuuhaku Park sold 1,000 shares at an average price of $208.49, totaling $208,490 and reducing the executive’s holdings by 9.1% to 9,984 shares.
- Matson reported quarterly earnings of $4.27 per share, beating estimates of $3.79, while revenue rose 16.7% year over year to $969.4 million.
- The company raised its quarterly dividend from $0.36 to $0.38 per share, and analysts maintained a generally bullish outlook with an average “Buy” rating and a $232.33 price target.
Matson, Inc. (NYSE:MATX - Get Free Report) SVP Jennifer Tungul sold 402 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total transaction of $83,812.98. Following the sale, the senior vice president directly owned 5,852 shares of the company's stock, valued at $1,220,083.48. This represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Matson Stock Up 4.9%
Shares of NYSE MATX opened at $214.41 on Thursday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74. The firm has a market cap of $6.41 billion, a PE ratio of 14.33 and a beta of 1.27. The company's fifty day simple moving average is $203.06 and its 200 day simple moving average is $180.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.
Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The company had revenue of $969.40 million for the quarter, compared to analysts' expectations of $893.91 million. During the same period last year, the business earned $2.92 EPS. Matson's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.
Matson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.38 per share. This is an increase from Matson's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Matson's dividend payout ratio (DPR) is presently 10.16%.
Matson News Roundup
Here are the key news stories impacting Matson this week:
- Positive Sentiment: Matson’s latest quarter showed strong operating momentum: earnings per share reached $4.27 versus the $3.79 consensus estimate, while revenue rose 16.7% year over year to $969.4 million, well above forecasts. Full-year earnings are projected at approximately $16.01 per share.
- Positive Sentiment: Analysts have recently raised their outlook for MATX. JPMorgan lifted its price target to $270, Stephens raised its target to $260, and multiple firms upgraded the stock to Buy or Strong Buy. The consensus price target is $232.33. Shipping stocks and analyst outlook article
- Positive Sentiment: Matson increased its quarterly dividend to $0.38 per share from $0.36, implying an annualized payout of $1.52. Although the approximately 0.7% yield is modest, the increase reinforces confidence in cash generation.
- Neutral Sentiment: Institutional investors own approximately 84.8% of Matson’s shares, while several smaller funds recently initiated positions. These ownership changes suggest continued institutional interest but are not major near-term catalysts.
- Negative Sentiment: Four Matson senior vice presidents sold a combined 4,569 shares for roughly $952,000 on August 11. Kuuhaku Park sold 1,000 shares, Leonard Isotoff sold 1,250, Jennifer Tungul sold 402 and John Warren Sullivan sold 1,917. The transactions reduced their individual holdings by approximately 6% to 20%, though each executive retained shares. Matson insider selling article
Institutional Investors Weigh In On Matson
Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Matson during the 4th quarter worth approximately $17,276,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Matson in the fourth quarter worth $2,017,000. SG Americas Securities LLC raised its position in shares of Matson by 887.1% in the first quarter. SG Americas Securities LLC now owns 57,586 shares of the shipping company's stock worth $9,441,000 after buying an additional 51,752 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Matson in the first quarter worth $32,761,000. Finally, Convergence Investment Partners LLC bought a new stake in Matson during the first quarter valued at approximately $1,712,000. 84.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
MATX has been the topic of several analyst reports. Weiss Ratings raised Matson from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Matson from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Matson from $230.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Zacks Research upgraded shares of Matson from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Finally, Stephens raised their price target on shares of Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, Matson currently has an average rating of "Buy" and a consensus target price of $232.33.
View Our Latest Stock Analysis on MATX
About Matson
(
Get Free Report)
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.
Further Reading
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