Matson (NYSE:MATX) Sets New 12-Month High – Still a Buy?

Matson, Inc. (NYSE:MATX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $169.00 and last traded at $168.92, with a volume of 144356 shares trading hands. The stock had previously closed at $163.97.

Analyst Ratings Changes

A number of research firms have issued reports on MATX. Stephens lifted their target price on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

Matson Trading Up 2.1 %

The company’s fifty day moving average price is $138.91 and its two-hundred day moving average price is $129.87. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.56 billion, a P/E ratio of 14.02 and a beta of 1.06.

Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.40 EPS. As a group, sell-side analysts predict that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a yield of 0.81%. Matson’s payout ratio is presently 11.31%.

Insider Buying and Selling at Matson

In related news, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total value of $877,393.44. Following the sale, the executive vice president now directly owns 32,952 shares in the company, valued at $5,350,086.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Leonard P. Isotoff sold 492 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the sale, the senior vice president now directly owns 4,254 shares of the company’s stock, valued at approximately $686,000.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total value of $877,393.44. Following the sale, the executive vice president now directly owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,864 shares of company stock worth $3,716,059. Company insiders own 2.32% of the company’s stock.

Hedge Funds Weigh In On Matson

Hedge funds have recently made changes to their positions in the business. TruNorth Capital Management LLC acquired a new stake in Matson during the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC acquired a new stake in Matson during the 2nd quarter valued at $34,000. International Assets Investment Management LLC acquired a new stake in Matson during the 2nd quarter valued at $39,000. Harbor Capital Advisors Inc. acquired a new stake in Matson during the 3rd quarter valued at $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Matson during the 1st quarter valued at $71,000. 84.76% of the stock is owned by 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.