Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 16,329 Matson, Inc. $MATX

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. bought 16,329 shares of Matson in the fourth quarter, worth about $2.0 million, giving it roughly 0.05% ownership of the shipping company.
• Analysts are mixed on MATX: JPMorgan initiated coverage with an overweight rating and a $230 target, while other firms issued hold calls, leaving the stock with a Moderate Buy consensus and an average target price of $181.25.
• Matson reported Q1 EPS of $1.85, topping estimates, and also announced a quarterly dividend of $0.36 per share; the stock was trading near its 52-week high after rising 4.6%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,329 shares of the shipping company's stock, valued at approximately $2,017,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.05% of Matson at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Matson during the 4th quarter valued at $25,000. Federated Hermes Inc. boosted its stake in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Matson during the second quarter worth $28,000. Torren Management LLC acquired a new stake in shares of Matson during the fourth quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson during the third quarter worth $30,000. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on MATX shares. JPMorgan Chase & Co. started coverage on shares of Matson in a report on Monday, April 27th. They set an "overweight" rating and a $230.00 target price on the stock. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of Matson to a "hold" rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.25.

Matson Stock Up 4.6%

MATX stock opened at $188.38 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $189.99. The firm's 50-day simple moving average is $169.62 and its 200 day simple moving average is $147.14. The stock has a market cap of $5.70 billion, a PE ratio of 13.84 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.20. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business had revenue of $757.80 million for the quarter, compared to analysts' expectations of $777.55 million. During the same quarter last year, the company earned $2.18 EPS. The company's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Matson, Inc. will post 13.96 EPS for the current year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson's dividend payout ratio (DPR) is 10.58%.

Insiders Place Their Bets

In related news, Director Bradley D. Tilden sold 1,594 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $181.85, for a total value of $289,868.90. Following the sale, the director owned 7,555 shares of the company's stock, valued at $1,373,876.75. This trade represents a 17.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kuuhaku T. Park sold 2,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the completion of the sale, the senior vice president directly owned 10,984 shares in the company, valued at approximately $1,979,206.96. This trade represents a 18.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 60,993 shares of company stock worth $10,360,506. 2.51% of the stock is owned by company insiders.

About Matson

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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