Matson (NYSE:MATX) Reaches New 52-Week High – Should You Buy?

Matson, Inc. (NYSE:MATX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $203.33 and last traded at $206.2880, with a volume of 113550 shares trading hands. The stock had previously closed at $192.23.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MATX shares. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Matson currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Matson Trading Down 0.6%

The stock has a market capitalization of $6.14 billion, a P/E ratio of 14.90 and a beta of 1.28. The business has a 50 day simple moving average of $186.85 and a 200-day simple moving average of $165.07. 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 posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the previous year, the business earned $2.18 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that Matson, Inc. will post 13.96 EPS for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio (DPR) is presently 10.58%.

Insider Buying and Selling

In related news, SVP Grace M. Cerocke sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the sale, the senior vice president directly owned 17,986 shares in the company, valued at approximately $3,301,690.02. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Laura L. Rascon sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $188.53, for a total transaction of $527,884.00. Following the sale, the senior vice president owned 15,656 shares of the company’s stock, valued at $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,963 shares of company stock worth $4,349,268 in the last ninety days. Insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of Matson by 12.6% in the 1st quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company’s stock worth $32,940,000 after acquiring an additional 22,516 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Matson by 24.0% in the 1st quarter. Edgestream Partners L.P. now owns 45,745 shares of the shipping company’s stock valued at $7,499,000 after purchasing an additional 8,860 shares during the period. Amundi boosted its position in shares of Matson by 26.4% in the 1st quarter. Amundi now owns 4,821 shares of the shipping company’s stock valued at $790,000 after purchasing an additional 1,008 shares during the period. California State Teachers Retirement System increased its stake in Matson by 30.9% in the 1st quarter. California State Teachers Retirement System now owns 11,506 shares of the shipping company’s stock worth $1,886,000 after purchasing an additional 2,718 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Matson by 15.6% in the 1st quarter. Empowered Funds LLC now owns 22,840 shares of the shipping company’s stock worth $3,744,000 after purchasing an additional 3,090 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

About Matson

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.