Matson, Inc. (NYSE:MATX) Short Interest Update

Matson, Inc. (NYSE:MATXGet Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,780,000 shares, a growth of 15.6% from the August 15th total of 1,540,000 shares. Based on an average daily trading volume, of 351,800 shares, the short-interest ratio is presently 5.1 days. Approximately 4.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MATX. Wolfe Research started coverage on shares of Matson in a report on Tuesday, August 16th. They set an “underperform” rating and a $80.00 price objective for the company. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 2nd. Finally, Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and reduced their price target for the stock from $131.00 to $93.00 in a research report on Tuesday, August 2nd.

Insider Activity

In other news, SVP Richard S. Kinney sold 470 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $72.51, for a total transaction of $34,079.70. Following the transaction, the senior vice president now directly owns 8,975 shares in the company, valued at $650,777.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Matson news, EVP Rusty K. Rolfe sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $70.10, for a total transaction of $350,500.00. Following the transaction, the executive vice president now owns 20,499 shares of the company’s stock, valued at $1,436,979.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Richard S. Kinney sold 470 shares of the firm’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $72.51, for a total transaction of $34,079.70. Following the completion of the transaction, the senior vice president now directly owns 8,975 shares in the company, valued at approximately $650,777.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,972 shares of company stock valued at $2,426,385. Insiders own 1.90% of the company’s stock.

Institutional Trading of Matson

A number of institutional investors have recently added to or reduced their stakes in MATX. BlackRock Inc. lifted its stake in shares of Matson by 3.2% in the first quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock worth $802,830,000 after buying an additional 204,399 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Matson by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock worth $561,594,000 after buying an additional 153,723 shares during the last quarter. Capital Research Global Investors increased its position in Matson by 6.2% during the first quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock worth $253,890,000 after acquiring an additional 122,200 shares during the period. Dimensional Fund Advisors LP increased its position in Matson by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,031,111 shares of the shipping company’s stock worth $245,002,000 after acquiring an additional 11,949 shares during the period. Finally, State Street Corp increased its position in Matson by 5.5% during the fourth quarter. State Street Corp now owns 1,477,346 shares of the shipping company’s stock worth $133,005,000 after acquiring an additional 77,288 shares during the period. 83.98% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Performance

Matson stock opened at $68.21 on Tuesday. The firm’s 50 day simple moving average is $79.64 and its 200-day simple moving average is $87.28. Matson has a fifty-two week low of $66.75 and a fifty-two week high of $125.34. The company has a market cap of $2.66 billion, a P/E ratio of 2.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.76 and a quick ratio of 1.76.

Matson (NYSE:MATXGet Rating) last announced its quarterly earnings data on Monday, August 1st. The shipping company reported $9.49 EPS for the quarter, beating analysts’ consensus estimates of $9.38 by $0.11. Matson had a net margin of 29.33% and a return on equity of 79.22%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.35 billion. As a group, equities research analysts predict that Matson will post 30.75 EPS for the current year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th were paid a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This is a boost from Matson’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.82%. Matson’s payout ratio is 3.69%.

About Matson

(Get Rating)

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.

Read More

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.