Matson (NYSE:MATX) Reaches New 12-Month Low at $63.30

Matson, Inc. (NYSE:MATXGet Rating)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $63.30 and last traded at $63.49, with a volume of 1207 shares. The stock had previously closed at $65.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and cut their price target for the stock from $131.00 to $93.00 in a research report on Tuesday, August 2nd. Wolfe Research assumed coverage on shares of Matson in a report on Tuesday, August 16th. They issued an “underperform” rating and a $80.00 target price on the stock. Finally, StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 2nd.

Matson Price Performance

The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 1.94 and a beta of 1.25. The company’s 50 day moving average is $79.20 and its 200-day moving average is $86.72. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.24.

Matson (NYSE:MATXGet Rating) last released its quarterly earnings results on Monday, August 1st. The shipping company reported $9.49 earnings per share for the quarter, beating the consensus estimate of $9.38 by $0.11. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Matson had a net margin of 29.33% and a return on equity of 79.22%. Equities research analysts anticipate that Matson, Inc. will post 30.75 earnings per share for the current year.

Insider Buying and Selling at Matson

In related news, SVP Grace M. Cerocke sold 500 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.77, for a total transaction of $34,885.00. Following the sale, the senior vice president now owns 10,313 shares in the company, valued at approximately $719,538.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Matson news, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $79.82, for a total value of $399,100.00. Following the sale, the chief executive officer now owns 252,802 shares in the company, valued at $20,178,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Grace M. Cerocke sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $69.77, for a total transaction of $34,885.00. Following the completion of the sale, the senior vice president now owns 10,313 shares in the company, valued at approximately $719,538.01. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $2,392,305 in the last three months. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matson

A number of hedge funds have recently modified their holdings of MATX. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Matson during the first quarter worth $28,000. First Horizon Advisors Inc. lifted its holdings in shares of Matson by 1,573.1% during the second quarter. First Horizon Advisors Inc. now owns 435 shares of the shipping company’s stock worth $31,000 after purchasing an additional 409 shares during the period. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Matson during the second quarter worth $36,000. Gladius Capital Management LP acquired a new position in shares of Matson during the second quarter worth $39,000. Finally, Financial Management Professionals Inc. raised its stake in Matson by 80.3% during the first quarter. Financial Management Professionals Inc. now owns 348 shares of the shipping company’s stock worth $42,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

Matson Company Profile

(Get Rating)

Matson, Inc, together with its subsidiaries, 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.

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