Matson Inc (NYSE:MATX) has earned a consensus rating of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $39.40.

MATX has been the topic of a number of recent research reports. ValuEngine downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Stifel Nicolaus upped their price target on shares of Matson from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Wells Fargo & Co downgraded shares of Matson to a “hold” rating and set a $35.00 price target on the stock. in a research note on Friday, September 28th. Finally, Zacks Investment Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a research note on Wednesday.

Shares of MATX stock traded down $0.38 during mid-day trading on Monday, hitting $40.46. The company had a trading volume of 260,750 shares, compared to its average volume of 254,195. Matson has a 52-week low of $26.55 and a 52-week high of $41.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market capitalization of $1.74 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.32 and a beta of 1.39.

Matson (NYSE:MATX) last released its earnings results on Monday, November 5th. The shipping company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. Matson had a net margin of 11.74% and a return on equity of 14.31%. The firm had revenue of $589.40 million for the quarter, compared to the consensus estimate of $565.67 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Matson will post 2.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 7th. Matson’s payout ratio is presently 47.19%.

In related news, Director Mark H. Fukunaga purchased 4,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were purchased at an average cost of $36.24 per share, for a total transaction of $144,960.00. Following the completion of the acquisition, the director now owns 10,432 shares in the company, valued at approximately $378,055.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the transaction, the president now owns 60,884 shares in the company, valued at $2,130,940. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,000 shares of company stock worth $111,810. Company insiders own 2.48% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Matson by 7.1% during the second quarter. BlackRock Inc. now owns 6,228,684 shares of the shipping company’s stock valued at $239,058,000 after buying an additional 414,250 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Matson during the third quarter valued at about $6,231,000. LSV Asset Management lifted its position in shares of Matson by 225.4% during the second quarter. LSV Asset Management now owns 145,842 shares of the shipping company’s stock valued at $5,597,000 after buying an additional 101,017 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Matson by 1,109.8% during the second quarter. SG Americas Securities LLC now owns 57,065 shares of the shipping company’s stock valued at $2,190,000 after buying an additional 52,348 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Matson by 9.0% during the second quarter. Northern Trust Corp now owns 586,741 shares of the shipping company’s stock valued at $22,518,000 after buying an additional 48,592 shares during the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

About Matson

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Analyst Recommendations for Matson (NYSE:MATX)

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