Matson (NYSE:MATX) Hits New 12-Month High Following Earnings Beat

Matson, Inc. (NYSE:MATX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $145.00 and last traded at $143.87, with a volume of 9810 shares trading hands. The stock had previously closed at $133.59.

The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.91. Matson had a net margin of 10.41% and a return on equity of 13.87%. The firm had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. During the same quarter in the prior year, the business posted $3.40 EPS. The business's revenue was up 16.3% compared to the same quarter last year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. Matson's dividend payout ratio (DPR) is presently 16.04%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MATX shares. Stephens upped their target price on Matson from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th.

Insider Buying and Selling at Matson

In related news, CEO Matthew J. Cox sold 6,499 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $143.82, for a total transaction of $934,686.18. Following the completion of the transaction, the chief executive officer now directly owns 208,898 shares in the company, valued at $30,043,710.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jason Lee Taylor sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the transaction, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Cox sold 6,499 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $143.82, for a total transaction of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares in the company, valued at $30,043,710.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,712 shares of company stock worth $4,149,098 over the last 90 days. Insiders own 2.32% of the company's stock.

Institutional Trading of Matson

A number of institutional investors and hedge funds have recently bought and sold shares of MATX. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 215,452 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in Matson by 3,509.3% in the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company's stock valued at $21,233,000 after buying an additional 183,676 shares during the period. Millennium Management LLC boosted its position in Matson by 126.5% during the second quarter. Millennium Management LLC now owns 240,117 shares of the shipping company's stock valued at $31,448,000 after acquiring an additional 134,092 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company's stock worth $46,680,000 after acquiring an additional 122,017 shares during the period. Finally, Forest Avenue Capital Management LP grew its stake in Matson by 50.2% during the second quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company's stock worth $30,445,000 after purchasing an additional 77,731 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Up 15.9 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The firm's 50 day moving average price is $135.07 and its two-hundred day moving average price is $126.76. The company has a market cap of $5.41 billion, a P/E ratio of 18.16 and a beta of 1.07.

Matson Company Profile

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.