Matson, Inc. (NYSE:MATX) Raises Dividend to $0.34 Per Share

Matson, Inc. (NYSE:MATXGet Free Report) announced a quarterly dividend on Thursday, June 27th, Zacks reports. Stockholders of record on Thursday, August 1st will be paid a dividend of 0.34 per share by the shipping company on Thursday, September 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32.

Matson has increased its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 12 years. Matson has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Matson to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 14.4%.

Matson Stock Down 0.1 %

Shares of NYSE MATX opened at $128.90 on Friday. The stock has a market cap of $4.50 billion, a P/E ratio of 15.20 and a beta of 1.11. The firm has a 50 day moving average price of $117.98 and a 200 day moving average price of $113.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. Matson has a 52-week low of $74.04 and a 52-week high of $133.53.

Matson (NYSE:MATXGet Free Report) last issued 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. Analysts expect that Matson will post 10.1 EPS for the current year.

Wall Street Analyst Weigh In

MATX has been the topic of a number of research reports. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Matson in a research note on Friday, May 24th.

Read Our Latest Stock Report on MATX

Insider Transactions at Matson

In related news, SVP John Warren Sullivan sold 893 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total transaction of $98,765.80. Following the transaction, the senior vice president now directly owns 13,495 shares in the company, valued at $1,492,547. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Richard S. Kinney sold 1,792 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $115.11, for a total transaction of $206,277.12. Following the transaction, the senior vice president now directly owns 9,588 shares in the company, valued at $1,103,674.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John Warren Sullivan sold 893 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total transaction of $98,765.80. Following the completion of the transaction, the senior vice president now owns 13,495 shares in the company, valued at $1,492,547. The disclosure for this sale can be found here. Insiders have sold a total of 5,485 shares of company stock valued at $619,987 over the last 90 days. 2.32% of the stock is owned by corporate insiders.

Matson Company Profile

(Get Free Report)

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.

Read More

Dividend History for Matson (NYSE:MATX)

Receive News & Ratings for Matson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson and related companies with MarketBeat.com's FREE daily email newsletter.