Brokerages Set Matson, Inc. (NYSE:MATX) Price Target at $181.25

Shares of Matson, Inc. (NYSE:MATX) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $181.25.

MATX has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Zacks Research raised Matson to a “hold” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th.

Insiders Place Their Bets

In other news, SVP Grace M. Cerocke sold 1,200 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total value of $220,284.00. Following the sale, the senior vice president directly owned 17,986 shares of the company’s stock, valued at approximately $3,301,690.02. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher A. Scott sold 1,520 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the transaction, the senior vice president owned 9,708 shares of the company’s stock, valued at $1,757,633.40. The trade was a 13.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,963 shares of company stock valued at $4,349,268. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of institutional investors have recently made changes to their positions in MATX. Danske Bank A S purchased a new stake in shares of Matson during the fourth quarter valued at $25,000. SouthState Bank Corp purchased a new stake in Matson during the fourth quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in Matson in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after buying an additional 94 shares during the period. Finally, Torren Management LLC bought a new stake in Matson during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Down 0.0%

Shares of Matson stock opened at $222.17 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50-day moving average of $193.74 and a 200 day moving average of $171.58. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 16.32 and a beta of 1.28. Matson has a 1 year low of $86.97 and a 1 year high of $230.74.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same period last year, the company posted $2.18 EPS. Matson’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Matson will post 14.16 earnings per share for the current fiscal year.

Matson Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, August 6th. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Matson’s dividend payout ratio (DPR) is presently 10.58%.

Matson Company Profile

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.