Matson (NYSE:MATX) Price Target Raised to $111.00 at Stifel Nicolaus

Matson (NYSE:MATX) had its price target lifted by Stifel Nicolaus from $109.00 to $111.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

Separately, StockNews.com upgraded Matson from a hold rating to a buy rating in a research note on Wednesday.

Matson Stock Down 2.1 %

Shares of Matson stock opened at $105.48 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 12.59 and a beta of 1.12. The firm’s 50-day moving average is $108.91 and its two-hundred day moving average is $105.79. Matson has a 1 year low of $62.71 and a 1 year high of $122.99.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.60% and a return on equity of 12.71%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. As a group, research analysts expect that Matson will post 8.2 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is presently 15.27%.

Insider Buying and Selling at Matson

In related news, SVP Christopher A. Scott sold 1,171 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares in the company, valued at approximately $1,397,261.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Matson during the 4th quarter valued at approximately $26,000. USA Financial Formulas purchased a new stake in Matson in the fourth quarter valued at $26,000. Security National Bank acquired a new stake in Matson during the 4th quarter worth about $36,000. Blue Trust Inc. raised its stake in shares of Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after buying an additional 217 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new stake in shares of Matson in the fourth quarter worth about $66,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About Matson

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.