Matson, Inc. (MATX) Lifted to “Sell” at BidaskClub
BidaskClub upgraded shares of Matson, Inc. (NYSE:MATX) from a strong sell rating to a sell rating in a research note published on Wednesday.
A number of other equities research analysts have also issued reports on MATX. Zacks Investment Research raised Matson from a sell rating to a buy rating and set a $36.00 target price on the stock in a research report on Wednesday, April 26th. TheStreet lowered Matson from a b- rating to a c+ rating in a research report on Monday, May 22nd. Finally, Stephens set a $40.00 target price on Matson and gave the stock a buy rating in a research report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $37.00.
Matson (NYSE MATX) traded down 0.37% during mid-day trading on Wednesday, reaching $29.28. The company had a trading volume of 215,436 shares. Matson has a 12 month low of $27.90 and a 12 month high of $43.00. The stock’s 50-day moving average is $29.65 and its 200 day moving average is $31.55. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.83 and a beta of 1.13.
Matson (NYSE:MATX) last announced its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. The company had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. Matson’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, analysts predict that Matson will post $1.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 3rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.73%. This is a positive change from Matson’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, August 1st. Matson’s payout ratio is presently 46.24%.
In related news, Director W Blake Baird sold 2,578 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total transaction of $77,288.44. Following the transaction, the director now directly owns 15,583 shares of the company’s stock, valued at $467,178.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley M. Kuriyama purchased 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $29.75 per share, for a total transaction of $98,175.00. Following the completion of the transaction, the director now directly owns 32,932 shares of the company’s stock, valued at approximately $979,727. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MATX. BlackRock Inc. raised its position in Matson by 83,732.7% in the first quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after buying an additional 5,970,976 shares during the last quarter. Vanguard Group Inc. raised its position in Matson by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock valued at $117,853,000 after buying an additional 79,971 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Matson by 9.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 1,543,302 shares of the shipping company’s stock valued at $46,361,000 after buying an additional 138,348 shares during the last quarter. State Street Corp raised its position in Matson by 3.6% in the first quarter. State Street Corp now owns 1,063,682 shares of the shipping company’s stock valued at $33,783,000 after buying an additional 36,623 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Matson by 4.5% in the first quarter. Macquarie Group Ltd. now owns 865,715 shares of the shipping company’s stock valued at $27,495,000 after buying an additional 37,400 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Matson, Inc is a transportation company in the Marine industry.
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