Matson, Inc. (NYSE:MATX) Declares Quarterly Dividend of $0.32

Matson, Inc. (NYSE:MATX) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.32 per share by the shipping company on Thursday, June 6th. This represents a $1.28 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, May 8th.

Matson has increased its dividend by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 12 years. Matson has a dividend payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Matson to earn $7.81 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 16.4%.

Matson Price Performance

Matson stock traded down $0.78 during midday trading on Friday, hitting $108.94. The company’s stock had a trading volume of 171,616 shares, compared to its average volume of 198,083. 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 stock’s 50-day moving average price is $109.38 and its 200-day moving average price is $105.29. Matson has a 12 month low of $62.71 and a 12 month high of $122.99. The company has a market capitalization of $3.76 billion, a PE ratio of 13.01 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a research note on Saturday, April 20th. Stifel Nicolaus lifted their target price on Matson from $108.00 to $109.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st.

Insider Activity

In other news, SVP Christopher A. Scott sold 1,171 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 12,958 shares of the company’s stock, valued at $1,397,261.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.32% of the stock is owned by company insiders.

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.