Matson (NYSE:MATX) Sets New 52-Week High – Still a Buy?

Matson, Inc. (NYSE:MATX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $198.13 and last traded at $197.8850, with a volume of 12251 shares traded. The stock had previously closed at $193.43.

Analyst Ratings Changes

A number of research firms have recently issued reports on MATX. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Zacks Research upgraded shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.25.

Matson Stock Performance

The company has a market cap of $6.06 billion, a PE ratio of 14.69 and a beta of 1.29. The business’s 50-day moving average is $178.51 and its 200 day moving average is $155.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Matson (NYSE:MATX) last issued its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. On average, equities research analysts predict that Matson, Inc. will post 13.96 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were given a $0.36 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.7%. Matson’s payout ratio is presently 10.58%.

Insider Transactions at Matson

In other Matson news, SVP Kuuhaku T. Park sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the transaction, the senior vice president owned 10,984 shares in the company, valued at approximately $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher A. Scott sold 3,305 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $180.14, for a total transaction of $595,362.70. Following the completion of the transaction, the senior vice president owned 11,228 shares in the company, valued at $2,022,611.92. The trade was a 22.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,963 shares of company stock valued at $4,349,268. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently modified their holdings of MATX. Federated Hermes Inc. increased its position in shares of Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 138 shares during the period. Danske Bank A S purchased a new position in shares of Matson in the fourth quarter valued at about $25,000. Headlands Technologies LLC purchased a new position in shares of Matson in the second quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Matson in the third quarter valued at about $30,000. Finally, SouthState Bank Corp purchased a new position in shares of Matson in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.