Zacks Investment Research downgraded shares of Matson, Inc. (NYSE:MATX) from a buy rating to a hold rating in a research note released on Friday morning.

According to Zacks, “Matson, Inc. operates as an ocean transportation and logistics company. It offers shipping services in Hawaii, Guam, and Micronesia islands and expedited service from China to southern California. The company’s logistics services consist of rail intermodal service, long haul and regional highway truckload services, less-than-truckload transportation, specialized hauling, flatbed, and project works, warehousing and distribution services, transloading, cross-dock services, and packaging services, and network analysis and freight management services. Matson, Inc., formerly known as Alexander & Baldwin Holdings, Inc., is headquartered in Honolulu, Hawaii. “

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus reissued a buy rating and issued a $32.00 price target (up from $30.00) on shares of Matson in a report on Thursday, September 21st. Wells Fargo & Company reissued an underperform rating and issued a $22.00 price target on shares of Matson in a report on Monday, September 25th. BidaskClub cut shares of Matson from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Stephens cut shares of Matson from an overweight rating to an equal weight rating and lowered their target price for the stock from $38.00 to $23.00 in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Matson has an average rating of Hold and a consensus price target of $27.25.

Matson (NYSE MATX) opened at $27.47 on Friday. The firm has a market cap of $1,166.04, a PE ratio of 14.16, a price-to-earnings-growth ratio of 3.13 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.56. Matson has a fifty-two week low of $21.63 and a fifty-two week high of $40.26.

Matson (NYSE:MATX) last released its quarterly earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The firm had revenue of $543.90 million for the quarter, compared to analysts’ expectations of $531.61 million. Matson had a net margin of 4.12% and a return on equity of 17.49%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. equities research analysts anticipate that Matson will post 1.76 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. Matson’s dividend payout ratio is presently 41.24%.

In other news, Director Jeffrey N. Watanabe purchased 4,100 shares of Matson stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $24.07 per share, for a total transaction of $98,687.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas B. Fargo purchased 2,000 shares of Matson stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $23.61 per share, for a total transaction of $47,220.00. The disclosure for this purchase can be found here. Insiders have bought 12,200 shares of company stock worth $292,734 over the last ninety days. Insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MATX. UBS Asset Management Americas Inc. boosted its position in shares of Matson by 6.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 13,995 shares of the shipping company’s stock worth $444,000 after acquiring an additional 890 shares in the last quarter. FMR LLC boosted its position in shares of Matson by 4.6% during the 1st quarter. FMR LLC now owns 20,300 shares of the shipping company’s stock worth $645,000 after acquiring an additional 900 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Matson by 5.0% during the 1st quarter. Teachers Advisors LLC now owns 74,519 shares of the shipping company’s stock worth $2,367,000 after acquiring an additional 3,574 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Matson by 2.0% during the 1st quarter. Legal & General Group Plc now owns 71,811 shares of the shipping company’s stock worth $2,280,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Matson by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock worth $122,062,000 after acquiring an additional 195,335 shares in the last quarter. Institutional investors and hedge funds own 85.38% of the company’s stock.

Matson Company Profile

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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