Matson (NYSE:MATX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Matson, Inc. (NYSE:MATX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $138.69 and traded as high as $143.16. Matson shares last traded at $141.04, with a volume of 196,360 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MATX. Stephens reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Price Performance

The stock has a 50-day moving average of $146.48 and a two-hundred day moving average of $138.81. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 11.44 and a beta of 1.07. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same period last year, the company posted $3.40 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, analysts anticipate that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 7th. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Insider Activity

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total transaction of $497,910.00. Following the transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the sale, the executive vice president now owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,646 shares of company stock worth $1,578,768 over the last quarter. Corporate insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Investing LLC lifted its stake in Matson by 2.9% in the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock valued at $401,000 after acquiring an additional 85 shares during the last quarter. Paradiem LLC lifted its stake in shares of Matson by 2.2% in the 4th quarter. Paradiem LLC now owns 90,036 shares of the shipping company’s stock valued at $12,140,000 after purchasing an additional 1,909 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Matson by 0.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock worth $2,244,000 after purchasing an additional 80 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Matson during the fourth quarter worth $9,788,000. Finally, Ritholtz Wealth Management raised its holdings in Matson by 17.8% during the fourth quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company’s stock valued at $2,183,000 after buying an additional 2,448 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.