Matson (NYSE:MATX) Reaches New 1-Year Low – What’s Next?

Matson, Inc. (NYSE:MATX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $97.91 and last traded at $97.98, with a volume of 46099 shares changing hands. The stock had previously closed at $100.61.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens lifted their price objective on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th.

Matson Trading Up 0.4 %

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.23 billion, a PE ratio of 8.18 and a beta of 1.12. The business’s fifty day moving average is $127.87 and its 200-day moving average is $138.07.

Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.60. The firm had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. As a group, analysts anticipate that Matson, Inc. 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, March 6th. Stockholders of record on Thursday, February 6th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, February 6th. Matson’s payout ratio is currently 9.69%.

Insider Buying and Selling

In related news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares of the company’s stock, valued at $1,155,151.75. The trade was a 19.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the sale, the executive vice president now directly owns 25,192 shares in the company, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matson

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MML Investors Services LLC acquired a new stake in Matson in the third quarter valued at $249,000. Sanctuary Advisors LLC grew its stake in Matson by 41.0% in the third quarter. Sanctuary Advisors LLC now owns 8,173 shares of the shipping company’s stock worth $1,258,000 after purchasing an additional 2,378 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Matson during the third quarter valued at approximately $3,641,000. JPMorgan Chase & Co. lifted its holdings in Matson by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock worth $40,927,000 after buying an additional 26,366 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Matson by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 1,229 shares of the shipping company’s stock worth $166,000 after acquiring an additional 133 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.