Matson (NYSE:MATX - Get Free Report) was downgraded by research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a report released on Monday, Marketbeat.com reports.
Other analysts have also recently issued reports about the company. Stephens upped their target price on Matson from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th.
Check Out Our Latest Stock Report on Matson
Matson Price Performance
MATX stock traded down $6.35 during midday trading on Monday, reaching $154.30. 251,116 shares of the stock were exchanged, compared to its average volume of 275,370. The company has a fifty day moving average price of $141.52 and a 200 day moving average price of $131.45. Matson has a 52 week low of $93.75 and a 52 week high of $169.12. The stock has a market capitalization of $5.12 billion, a PE ratio of 13.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.
Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 EPS. As a group, analysts expect that Matson will post 13.19 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Rusty K. Rolfe sold 3,000 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the sale, the executive vice president now directly owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John Warren Sullivan sold 750 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,614 shares of company stock worth $4,338,094. 2.32% of the stock is currently owned by company insiders.
Institutional Trading of Matson
Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Matson in the first quarter valued at $182,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Matson by 25.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,793 shares of the shipping company's stock valued at $1,438,000 after buying an additional 2,620 shares in the last quarter. Vanguard Group Inc. lifted its position in Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company's stock worth $447,810,000 after buying an additional 215,452 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Matson by 70.1% in the first quarter. Edgestream Partners L.P. now owns 5,071 shares of the shipping company's stock worth $570,000 after buying an additional 2,090 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Matson by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 51,451 shares of the shipping company's stock valued at $5,783,000 after acquiring an additional 1,475 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
Matson Company Profile
(
Get Free Report)
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.
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