Matson, Inc. (NYSE:MATX) Short Interest Update

Matson, Inc. (NYSE:MATX) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 1,221,200 shares, a drop of 23.2% from the December 15th total of 1,589,963 shares. Based on an average trading volume of 361,962 shares, the days-to-cover ratio is presently 3.4 days. Currently, 4.0% of the company’s shares are short sold. Currently, 4.0% of the company’s shares are short sold. Based on an average trading volume of 361,962 shares, the days-to-cover ratio is presently 3.4 days.

Matson Price Performance

MATX stock opened at $146.48 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50-day moving average is $120.02 and its 200-day moving average is $109.54. The stock has a market capitalization of $4.57 billion, a PE ratio of 11.15 and a beta of 1.33. Matson has a 1 year low of $86.97 and a 1 year high of $154.23.

Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.99. Matson had a return on equity of 16.23% and a net margin of 12.70%.The business had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. During the same quarter in the prior year, the company earned $5.89 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that Matson will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 6th. Matson’s dividend payout ratio (DPR) is 10.96%.

Wall Street Analysts Forecast Growth

MATX has been the subject of several analyst reports. Wolfe Research restated an “outperform” rating and set a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Stephens increased their price target on Matson from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $148.00.

Institutional Investors Weigh In On Matson

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in Matson by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company’s stock worth $123,300,000 after purchasing an additional 35,229 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares during the last quarter. Millennium Management LLC grew its holdings in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after buying an additional 269,310 shares in the last quarter. LSV Asset Management raised its position in Matson by 6.5% in the 2nd quarter. LSV Asset Management now owns 317,422 shares of the shipping company’s stock valued at $35,345,000 after buying an additional 19,508 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Matson during the 3rd quarter valued at $26,415,000. 84.76% of the stock is owned by institutional investors.

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.