Matson (NYSE:MATX) Hits New 12-Month Low - Time to Sell?

Matson, Inc. (NYSE:MATX - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $97.91 and last traded at $97.98, with a volume of 46099 shares trading hands. The stock had previously closed at $100.61.

Analysts Set New Price Targets

A number of research firms have recently commented on MATX. Stifel Nicolaus increased their target price on shares of Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Stephens increased their price objective on shares of Matson from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.

Matson Stock Up 0.4 %

The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.18 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $126.99 and a 200 day moving average price of $137.76.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $890.30 million for the quarter, compared to the consensus estimate of $851.78 million. As a group, analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 6th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, February 6th. Matson's dividend payout ratio is currently 9.69%.

Insiders Place Their Bets

In related news, SVP Richard S. Kinney sold 1,997 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value of $273,808.67. Following the transaction, the senior vice president now owns 8,425 shares in the company, valued at $1,155,151.75. The trade was a 19.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the sale, the executive vice president now owns 25,192 shares of the company's stock, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its stake in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Matson in the fourth quarter worth $30,000. Ameriflex Group Inc. bought a new stake in Matson in the fourth quarter valued at $36,000. IFP Advisors Inc acquired a new position in shares of Matson during the fourth quarter valued at about $40,000. Finally, Covestor Ltd grew its stake in shares of 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 buying an additional 82 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

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.