Matson (NYSE:MATX) Sets New 12-Month High at $144.43

Shares of Matson, Inc. (NYSE:MATX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $144.43 and last traded at $142.73, with a volume of 7710 shares traded. The stock had previously closed at $142.79.

Wall Street Analysts Forecast Growth

MATX has been the topic of a number of recent analyst reports. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Matson Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $4.96 billion, a P/E ratio of 16.74 and a beta of 1.07. The company has a 50 day moving average of $132.31 and a 200-day moving average of $122.12.

Matson (NYSE:MATX) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.26. The business had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. Matson had a return on equity of 13.87% and a net margin of 10.41%. As a group, equities analysts anticipate that Matson, Inc. will post 11.45 EPS for the current year.

Insider Buying and Selling at Matson

In other Matson news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at approximately $15,579,754.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Joel M. Wine sold 12,821 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at approximately $15,579,754.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $133.37, for a total value of $1,000,275.00. Following the completion of the sale, the chief executive officer now directly owns 222,897 shares in the company, valued at $29,727,772.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,592 shares of company stock valued at $11,389,694. 2.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matson

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Matson during the 4th quarter valued at $10,295,000. UBS Group AG raised its stake in Matson by 29.3% during the 4th quarter. UBS Group AG now owns 57,453 shares of the shipping company’s stock valued at $6,297,000 after buying an additional 13,021 shares during the last quarter. Franklin Resources Inc. raised its stake in Matson by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 29,783 shares of the shipping company’s stock valued at $3,264,000 after buying an additional 4,043 shares during the last quarter. Fiduciary Trust Co purchased a new stake in Matson during the 4th quarter valued at $208,000. Finally, RK Capital Management LLC raised its stake in Matson by 19.9% during the 4th quarter. RK Capital Management LLC now owns 112,490 shares of the shipping company’s stock valued at $12,329,000 after buying an additional 18,690 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other 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.