Matson, Inc. (NYSE:MATX - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $100.07 and last traded at $101.19, with a volume of 11459 shares. The stock had previously closed at $102.88.
Wall Street Analysts Forecast Growth
MATX has been the subject of several research reports. Stephens raised their price target on Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their target price on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th.
Read Our Latest Stock Report on Matson
Matson Price Performance
The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $130.83 and a 200-day moving average of $139.20. The firm has a market capitalization of $3.35 billion, a P/E ratio of 8.50 and a beta of 1.12.
Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $890.30 million during the quarter, compared to analysts' expectations of $851.78 million. On average, sell-side analysts predict that Matson, Inc. will post 13.27 EPS for the current year.
Matson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.33%. Matson's dividend payout ratio is presently 9.69%.
Insider Activity at Matson
In related news, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the completion of the sale, the executive vice president now owns 25,192 shares of the company's stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now directly owns 8,425 shares in the company, valued at approximately $1,155,151.75. This represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Matson
Several institutional investors and hedge funds have recently added to or reduced their stakes in MATX. Bessemer Group Inc. lifted its position in shares of Matson by 67.7% during the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after buying an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Matson in the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. bought a new stake in shares of Matson during the 4th quarter valued at approximately $36,000. IFP Advisors Inc acquired a new position in Matson during the 4th quarter worth approximately $40,000. Finally, Covestor Ltd lifted its stake in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after purchasing an additional 82 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.
About Matson
(
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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