Matson, Inc. (NYSE:MATX) Sees Significant Growth in Short Interest

Matson, Inc. (NYSE:MATX) saw a significant increase in short interest in February. As of February 29th, there was short interest totalling 941,200 shares, an increase of 15.9% from the February 14th total of 811,800 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average trading volume of 347,700 shares, the short-interest ratio is currently 2.7 days.

Matson Stock Performance

Shares of NYSE:MATX opened at $105.29 on Monday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.56 and a beta of 1.13. Matson has a 52 week low of $56.51 and a 52 week high of $122.99. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $113.49 and a 200 day moving average of $101.02.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $788.90 million for the quarter, compared to the consensus estimate of $733.60 million. Matson had a return on equity of 12.71% and a net margin of 9.60%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 earnings per share. On average, sell-side analysts predict that Matson will post 8.2 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, February 7th. Matson’s dividend payout ratio (DPR) is presently 15.27%.

Analyst Ratings Changes

Several research analysts have issued reports on MATX shares. Stifel Nicolaus boosted their target price on Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. StockNews.com downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 1,171 shares of Matson stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $107.83, for a total value of $126,268.93. Following the completion of the transaction, the senior vice president now owns 12,958 shares in the company, valued at $1,397,261.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matson

Hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. purchased a new stake in Matson in the fourth quarter valued at $26,000. USA Financial Formulas purchased a new stake in shares of Matson during the 4th quarter worth about $26,000. International Assets Investment Management LLC purchased a new stake in shares of Matson during the 3rd quarter worth about $27,000. Security National Bank purchased a new stake in shares of Matson during the 4th quarter worth about $36,000. Finally, Blue Trust Inc. boosted its stake in shares of Matson by 109.6% during the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock worth $45,000 after acquiring an additional 217 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Matson Company Profile

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.