BidaskClub upgraded shares of Matson, Inc. (NYSE:MATX) from a strong sell rating to a sell rating in a report issued on Thursday.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus raised Matson from a hold rating to a buy rating and set a $30.00 price target on the stock in a research note on Friday, August 18th. Zacks Investment Research raised Matson from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Thursday, August 3rd. Stephens set a $40.00 target price on Matson and gave the stock a buy rating in a research note on Saturday, June 10th. TheStreet cut Matson from a b- rating to a c+ rating in a research note on Monday, May 22nd. Finally, Wells Fargo & Company cut Matson from a market perform rating to an underperform rating and set a $22.00 target price on the stock. in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $27.00.

Matson (NYSE MATX) traded up 1.01% during mid-day trading on Thursday, reaching $26.06. 34,772 shares of the company traded hands. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.97 and a beta of 1.13. Matson has a 12-month low of $21.63 and a 12-month high of $43.00. The company’s 50-day moving average is $28.14 and its 200-day moving average is $30.57.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million for the quarter, compared to analysts’ expectations of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities analysts predict that Matson will post $1.68 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be paid a $0.20 dividend. This is a boost from Matson’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, August 1st. Matson’s dividend payout ratio is currently 46.24%.

In other Matson news, CFO Joel M. Wine acquired 6,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average cost of $24.07 per share, with a total value of $146,827.00. Following the completion of the transaction, the chief financial officer now directly owns 99,411 shares of the company’s stock, valued at approximately $2,392,822.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey N. Watanabe acquired 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $24.07 per share, for a total transaction of $98,687.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 12,200 shares of company stock worth $292,734. Insiders own 2.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MATX. Teachers Advisors LLC boosted its stake in Matson by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 70,945 shares of the shipping company’s stock valued at $2,511,000 after buying an additional 946 shares during the period. Bank of Montreal Can boosted its stake in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares during the period. Louisiana State Employees Retirement System boosted its stake in Matson by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the shipping company’s stock valued at $559,000 after buying an additional 400 shares during the period. State of Alaska Department of Revenue boosted its stake in Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock valued at $151,000 after buying an additional 110 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Matson by 8.6% in the first quarter. Great West Life Assurance Co. Can now owns 56,799 shares of the shipping company’s stock valued at $1,801,000 after buying an additional 4,503 shares during the period. 84.23% of the stock is currently owned by institutional investors.

About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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