Matson (NYSE:MATX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Matson (NYSE:MATXFree Report) from a hold rating to a buy rating in a research note published on Friday.

MATX has been the subject of a number of other research reports. Stifel Nicolaus boosted their target price on shares of Matson from $102.00 to $108.00 and gave the stock a hold rating in a research note on Friday, January 19th. Wolfe Research boosted their target price on shares of Matson from $113.00 to $116.00 and gave the stock an outperform rating in a research note on Tuesday, October 24th.

Check Out Our Latest Analysis on MATX

Matson Stock Down 0.2 %

MATX opened at $112.88 on Friday. Matson has a fifty-two week low of $56.51 and a fifty-two week high of $122.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $108.34 and a two-hundred day moving average of $96.42. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 12.97 and a beta of 1.15.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 8th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, February 7th. Matson’s payout ratio is currently 14.71%.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 952 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $98.93, for a total transaction of $94,181.36. Following the sale, the senior vice president now directly owns 10,974 shares of the company’s stock, valued at approximately $1,085,657.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Matson news, SVP Christopher A. Scott sold 952 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $98.93, for a total value of $94,181.36. Following the sale, the senior vice president now directly owns 10,974 shares of the company’s stock, valued at approximately $1,085,657.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Richard S. Kinney sold 997 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $96.30, for a total transaction of $96,011.10. Following the completion of the sale, the senior vice president now directly owns 9,427 shares in the company, valued at $907,820.10. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Matson by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock worth $561,594,000 after purchasing an additional 153,723 shares during the period. Dimensional Fund Advisors LP boosted its stake in Matson by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,585,943 shares of the shipping company’s stock worth $201,007,000 after purchasing an additional 36,517 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Matson by 18.2% during the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 2,197,588 shares of the shipping company’s stock worth $170,819,000 after purchasing an additional 338,940 shares during the period. Capital Research Global Investors boosted its stake in Matson by 6.2% during the 1st quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock worth $253,890,000 after purchasing an additional 122,200 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Matson by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 718,152 shares of the shipping company’s stock worth $42,852,000 after purchasing an additional 30,494 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

Matson Company Profile

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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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