Deutsche Bank AG Acquires Shares of 30,413 Matson, Inc. $MATX

Key Points

• Deutsche Bank acquired 30,413 Matson shares worth approximately $5.85 million, while institutional investors collectively own 84.76% of the company.
• Matson reported strong quarterly results, with earnings of $4.27 per share and revenue of $969.4 million, surpassing analyst estimates and marking 16.7% year-over-year revenue growth. The company also raised its quarterly dividend to $0.38 per share.
• Analysts maintain a consensus “Buy” rating with an average price target of $232.33, although company insiders sold 16,462 shares worth roughly $3.44 million over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,413 shares of the shipping company's stock, valued at approximately $5,846,000. Deutsche Bank AG owned approximately 0.10% of Matson as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MATX. Perigon Wealth Management LLC acquired a new stake in Matson in the 2nd quarter valued at $1,259,000. Trust Co. of Vermont acquired a new position in Matson during the second quarter worth $333,000. Global Retirement Partners LLC bought a new position in shares of Matson in the second quarter valued at $44,000. Bank of New York Mellon Corp bought a new position in shares of Matson in the second quarter valued at $50,637,000. Finally, State of Wyoming acquired a new position in shares of Matson during the second quarter valued at about $153,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Trading Up 0.1%

Shares of Matson stock opened at $223.13 on Tuesday. The firm has a market cap of $6.67 billion, a PE ratio of 14.92 and a beta of 1.27. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $230.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $207.03 and a 200-day moving average price of $184.17.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The company had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. During the same period in the previous year, the firm earned $2.92 EPS. The firm's quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 6th. This is an increase from Matson's previous quarterly dividend of $0.36. Matson's dividend payout ratio (DPR) is 10.16%.

Insider Activity at Matson

In other news, EVP Peter T. Heilmann sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total value of $1,100,750.00. Following the sale, the executive vice president owned 20,506 shares of the company's stock, valued at $4,514,395.90. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kuuhaku T. Park sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total transaction of $208,490.00. Following the sale, the senior vice president owned 9,984 shares in the company, valued at $2,081,564.16. The trade was a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,462 shares of company stock worth $3,444,000 over the last 90 days. Corporate insiders own 2.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on MATX. Zacks Research raised shares of Matson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Stephens lifted their price target on Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on Matson from $230.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings upgraded Matson from a "hold (c)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, Matson presently has a consensus rating of "Buy" and an average target price of $232.33.

Matson Company Profile

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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