Matson, Inc. (NYSE:MATX) Receives $156.25 Average Price Target from Analysts

Matson, Inc. (NYSE:MATX) has been given a consensus rating of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $156.25.

MATX has been the topic of several research analyst reports. Wolfe Research reissued an “outperform” rating and issued a $167.00 price target on shares of Matson in a report on Thursday, January 8th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Finally, Stephens increased their target price on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 5,225 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $165.32, for a total value of $863,797.00. Following the completion of the sale, the senior vice president owned 6,746 shares of the company’s stock, valued at approximately $1,115,248.72. The trade was a 43.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kevin L. Stuck sold 2,524 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $167.08, for a total transaction of $421,709.92. Following the completion of the sale, the vice president directly owned 2,331 shares of the company’s stock, valued at approximately $389,463.48. The trade was a 51.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 42,550 shares of company stock worth $7,034,602. 2.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Danske Bank A S acquired a new position in shares of Matson during the 4th quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Matson during the 2nd quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matson during the third quarter worth approximately $30,000. Finally, SouthState Bank Corp bought a new position in shares of Matson during the fourth quarter worth approximately $31,000. 84.76% of the stock is owned by institutional investors.

Matson Price Performance

NYSE:MATX opened at $149.75 on Thursday. The company has a market cap of $4.56 billion, a P/E ratio of 10.74 and a beta of 1.32. The firm’s fifty day moving average price is $155.35 and its two-hundred day moving average price is $123.93. Matson has a one year low of $86.97 and a one year high of $177.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. The company had revenue of $851.90 million during the quarter, compared to analysts’ expectations of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. Matson’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.80 EPS. Equities analysts expect that Matson will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.44 annualized dividend and a yield of 1.0%. Matson’s payout ratio is 10.33%.

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.