Matson (NYSE:MATX) Lowered to Hold at StockNews.com

Matson (NYSE:MATX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Stifel Nicolaus increased their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st.

Matson Price Performance

NYSE:MATX opened at $111.83 on Thursday. The firm’s fifty day moving average price is $108.76 and its two-hundred day moving average price is $106.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $3.82 billion, a P/E ratio of 13.19 and a beta of 1.12. Matson has a one year low of $64.21 and a one year high of $122.99.

Matson (NYSE:MATX) last posted 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 during the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. Equities analysts expect that Matson will post 8.51 earnings per share for the current year.

Insider Transactions at Matson

In other news, SVP Leonard P. Isotoff sold 2,800 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $112.48, for a total transaction of $314,944.00. Following the completion of the transaction, the senior vice president now owns 4,746 shares of the company’s stock, valued at $533,830.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Leonard P. Isotoff sold 2,800 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $112.48, for a total value of $314,944.00. Following the completion of the sale, the senior vice president now owns 4,746 shares of the company’s stock, valued at $533,830.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction that occurred 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 directly owns 12,958 shares in the company, valued at $1,397,261.14. The disclosure for this sale can be found here. Company insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On Matson

Several large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its position in Matson by 32.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,911 shares of the shipping company’s stock valued at $524,000 after buying an additional 1,463 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Matson by 6.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,649 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 213 shares during the period. TD Asset Management Inc raised its stake in shares of Matson by 11.9% during the 3rd quarter. TD Asset Management Inc now owns 22,600 shares of the shipping company’s stock worth $2,005,000 after purchasing an additional 2,400 shares during the period. Skylands Capital LLC purchased a new position in shares of Matson in the 3rd quarter worth about $244,000. Finally, Assetmark Inc. increased its holdings in Matson by 4.2% during the third quarter. Assetmark Inc. now owns 36,736 shares of the shipping company’s stock worth $3,259,000 after buying an additional 1,467 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.