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MATX - Matson Inc.: Less Good Company Expensive Stock
Matson Inc.
In the approximately 290 days since I wrote my cautious piece about Matson, Inc. (MATX), the shares have returned about 9.6%, against a gain of 10.5% for the S&P 500. Previously, I made the argument that this was a fine company, with a sustainable dividend, but the shares were too expensive. I was also concerned about the impact of the IMO legislation, reminding investors that the company itself saw 2019 as a “transition year.” Much has happened since then, obviously, so I thought I’d check in on this shipping company. I’m going to