Matson (NYSE:MATX) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Matson (NYSE:MATXFree Report) from a buy rating to a hold rating in a research report report published on Saturday.

Several other equities analysts also recently commented on the stock. Wolfe Research boosted their price target 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. Stifel Nicolaus boosted their price target 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.

Check Out Our Latest Stock Report on MATX

Matson Stock Up 0.8 %

Matson stock opened at $119.58 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 firm has a 50 day moving average price of $110.40 and a 200 day moving average price of $97.36. The company has a market capitalization of $4.20 billion, a PE ratio of 13.74 and a beta of 1.15.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 8th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. Matson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 997 shares of Matson stock in a transaction 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 of the company’s stock, valued at approximately $907,820.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Richard S. Kinney sold 997 shares of Matson stock in a transaction 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 of the company’s stock, valued at approximately $907,820.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher A. Scott sold 952 shares of Matson stock in a transaction on Tuesday, December 5th. The stock was 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 $1,085,657.82. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of institutional investors and hedge funds have recently bought and sold shares of MATX. Raymond James Financial Services Advisors Inc. lifted its position in Matson by 55.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,779 shares of the shipping company’s stock valued at $1,180,000 after acquiring an additional 3,485 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Matson by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,745 shares of the shipping company’s stock valued at $572,000 after acquiring an additional 182 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Matson in the first quarter valued at $473,000. D.A. Davidson & CO. purchased a new stake in Matson in the first quarter valued at $231,000. Finally, MetLife Investment Management LLC lifted its position in Matson by 49.4% in the first quarter. MetLife Investment Management LLC now owns 22,040 shares of the shipping company’s stock valued at $2,658,000 after acquiring an additional 7,283 shares during the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

About Matson

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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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