Stifel Nicolaus downgraded shares of Matson (NYSE:MATX) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat reports. They currently have $43.00 price target on the shipping company’s stock.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Matson from a buy rating to a hold rating in a report on Saturday. ValuEngine raised Matson from a hold rating to a buy rating in a report on Tuesday, November 6th. Finally, Wells Fargo & Co cut Matson to a hold rating and set a $35.00 price target for the company. in a report on Friday, September 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $41.50.

Shares of Matson stock traded up $0.45 during trading on Tuesday, reaching $37.93. 2,507 shares of the company’s stock were exchanged, compared to its average volume of 221,941. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.92 and a current ratio of 0.92. Matson has a 1-year low of $27.25 and a 1-year high of $41.96. The stock has a market capitalization of $1.74 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.30 and a beta of 1.39.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, November 5th. The shipping company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Matson had a return on equity of 14.31% and a net margin of 11.74%. The company had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $565.67 million. During the same quarter in the previous year, the firm earned $0.79 EPS. Matson’s revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Matson will post 2.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Thursday, November 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. Matson’s payout ratio is presently 47.19%.

In other news, Director Mark H. Fukunaga bought 4,000 shares of the stock in a transaction on Friday, September 7th. The stock was acquired at an average price of $36.24 per share, with a total value of $144,960.00. Following the acquisition, the director now directly owns 10,432 shares in the company, valued at $378,055.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $35.00, for a total value of $35,000.00. Following the completion of the transaction, the president now directly owns 60,884 shares of the company’s stock, valued at approximately $2,130,940. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,000 shares of company stock valued at $111,810. Insiders own 2.48% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Matson by 4.3% in the 3rd quarter. BlackRock Inc. now owns 6,497,106 shares of the shipping company’s stock worth $257,544,000 after purchasing an additional 268,422 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Matson by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,667,981 shares of the shipping company’s stock valued at $105,757,000 after buying an additional 28,509 shares during the period. Hermes Investment Management Ltd. increased its stake in shares of Matson by 2.3% in the second quarter. Hermes Investment Management Ltd. now owns 787,627 shares of the shipping company’s stock valued at $30,229,000 after buying an additional 17,662 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Matson by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 760,157 shares of the shipping company’s stock valued at $30,133,000 after buying an additional 25,252 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Matson by 9.0% in the second quarter. Northern Trust Corp now owns 586,741 shares of the shipping company’s stock valued at $22,518,000 after buying an additional 48,592 shares during the period. 83.52% of the stock is owned by institutional investors and hedge funds.

About Matson

Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Analyst Recommendations for Matson (NYSE:MATX)

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