Matson Inc (NYSE:MATX) – Stock analysts at Seaport Global Securities upped their FY2018 earnings per share (EPS) estimates for shares of Matson in a research report issued to clients and investors on Tuesday, November 6th. Seaport Global Securities analyst K. Sterling now forecasts that the shipping company will post earnings per share of $2.52 for the year, up from their prior estimate of $2.34. Seaport Global Securities also issued estimates for Matson’s Q1 2019 earnings at $0.25 EPS and Q3 2019 earnings at $1.01 EPS.
Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The business had revenue of $589.40 million for the quarter, compared to analyst estimates of $565.67 million. Matson had a net margin of 11.74% and a return on equity of 14.31%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS.
Shares of MATX stock opened at $40.84 on Thursday. The stock has a market cap of $1.75 billion, a PE ratio of 22.94, a P/E/G ratio of 3.41 and a beta of 1.39. Matson has a 1-year low of $26.55 and a 1-year high of $41.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.92.
A number of institutional investors and hedge funds have recently bought and sold shares of MATX. Meeder Asset Management Inc. increased its position in Matson by 167.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock worth $125,000 after purchasing an additional 2,042 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Matson during the 2nd quarter worth approximately $209,000. Fruth Investment Management acquired a new stake in Matson during the 2nd quarter worth approximately $222,000. UBS Group AG increased its position in Matson by 1,157.3% during the 1st quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock worth $225,000 after purchasing an additional 7,256 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Matson in the second quarter valued at approximately $234,000. 84.83% of the stock is owned by hedge funds and other institutional investors.
In related news, President Ronald J. Forest sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the president now owns 60,884 shares of the company’s stock, valued at approximately $2,130,940. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark H. Fukunaga bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of $36.24 per share, with a total value of $144,960.00. Following the transaction, the director now owns 10,432 shares in the company, valued at approximately $378,055.68. The disclosure for this purchase can be found here. In the last three months, insiders have sold 3,000 shares of company stock valued at $111,810. Corporate insiders own 2.48% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, November 7th. Matson’s dividend payout ratio (DPR) is presently 47.19%.
Matson Company Profile
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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