Matson Inc (NYSE:MATX) – Equities research analysts at Seaport Global Securities upped their Q4 2018 earnings per share estimates for Matson in a research note issued on Tuesday, November 6th. Seaport Global Securities analyst K. Sterling now anticipates that the shipping company will post earnings per share of $0.47 for the quarter, up from their previous forecast of $0.35. Seaport Global Securities also issued estimates for Matson’s Q4 2019 earnings at $0.49 EPS.
Matson (NYSE:MATX) last posted its earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Matson had a net margin of 11.74% and a return on equity of 14.31%. The business had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $565.67 million. During the same period in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year.
NYSE MATX opened at $40.84 on Friday. 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. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 3.41 and a beta of 1.39.
Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of Matson by 167.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock valued at $125,000 after purchasing an additional 2,042 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Matson during the 2nd quarter valued at $209,000. Fruth Investment Management bought a new position in shares of Matson during the 2nd quarter valued at $222,000. North Point Portfolio Managers Corp OH bought a new position in shares of Matson during the 2nd quarter valued at $234,000. Finally, United Services Automobile Association bought a new position in shares of Matson during the 2nd quarter valued at $243,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.
In other news, President Ronald J. Forest sold 1,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $39.79, for a total transaction of $39,790.00. Following the sale, the president now owns 61,884 shares in the company, valued at approximately $2,462,364.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark H. Fukunaga acquired 4,000 shares of the stock in a transaction dated Friday, September 7th. The shares were bought at an average price of $36.24 per share, for a total transaction 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 90 days, insiders have sold 3,000 shares of company stock worth $111,810. Corporate insiders own 2.48% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 7th. Matson’s dividend payout ratio (DPR) is currently 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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