Shares of Matson Inc (NYSE:MATX) have earned an average recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $39.20.

MATX has been the subject of a number of analyst reports. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Saturday, November 10th. Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co downgraded shares of Matson to a “hold” rating and set a $35.00 price objective for the company. in a research report on Friday, September 28th.

Shares of NYSE MATX traded down $1.39 during midday trading on Friday, reaching $36.18. The company’s stock had a trading volume of 263,543 shares, compared to its average volume of 229,866. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16. Matson has a fifty-two week low of $27.73 and a fifty-two week high of $41.96. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 20.33 and a beta of 1.46.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Matson had a net margin of 11.74% and a return on equity of 14.31%. The company had revenue of $589.40 million during the quarter, compared to the consensus estimate of $565.67 million. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Matson will post 2.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 6th. Shareholders of record on Thursday, November 8th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, November 7th. This represents a $0.84 annualized dividend and a yield of 2.32%. Matson’s dividend payout ratio is currently 47.19%.

In other Matson news, President Ronald J. Forest sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the transaction, the president now directly owns 60,884 shares in the company, valued at $2,130,940. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Peter T. Heilmann sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $39.74, for a total transaction of $109,285.00. Following the transaction, the senior vice president now owns 41,435 shares of the company’s stock, valued at $1,646,626.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,750 shares of company stock valued at $224,075. Company insiders own 2.48% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. grew its stake in shares of Matson by 167.7% during the second quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock worth $125,000 after buying an additional 2,042 shares during the last quarter. Highland Capital Management LP bought a new stake in shares of Matson during the third quarter worth $205,000. CIBC Asset Management Inc bought a new stake in shares of Matson during the second quarter worth $209,000. UBS Group AG grew its stake in shares of Matson by 1,157.3% during the first quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock worth $225,000 after buying an additional 7,256 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Matson during the second quarter worth $243,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Matson

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Analyst Recommendations for Matson (NYSE:MATX)

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