Hsbc Holdings PLC Buys 6,021 Shares of Matson, Inc. $MATX

Key Points

• Hsbc Holdings PLC increased its stake in Matson, Inc. by 53.8%, purchasing an additional 6,021 shares, bringing its total holdings to 17,211 shares valued at approximately $2.2 million.
• Several institutional investors raised or established positions in Matson, leading to a total institutional ownership of 84.76%.
• Matson recently announced a dividend increase to $0.36 per share, up from $0.34, marking a yield of 1.4% for shareholders of record.

Hsbc Holdings PLC grew its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 53.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,211 shares of the shipping company's stock after acquiring an additional 6,021 shares during the period. Hsbc Holdings PLC owned 0.05% of Matson worth $2,202,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Matson by 6.6% in the first quarter. American Century Companies Inc. now owns 1,158,834 shares of the shipping company's stock worth $148,528,000 after acquiring an additional 71,902 shares in the last quarter. Boston Partners grew its stake in Matson by 424.8% in the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company's stock valued at $121,428,000 after buying an additional 775,600 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Matson by 1.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 603,634 shares of the shipping company's stock valued at $77,368,000 after buying an additional 6,135 shares during the last quarter. Northern Trust Corp grew its stake in Matson by 14.5% in the 4th quarter. Northern Trust Corp now owns 484,432 shares of the shipping company's stock valued at $65,321,000 after buying an additional 61,204 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Matson by 73.9% in the 4th quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after buying an additional 177,000 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the transaction, the senior vice president directly owned 13,441 shares of the company's stock, valued at $1,477,703.54. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MATX. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Jefferies Financial Group reissued a "hold" rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. Stifel Nicolaus reduced their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Finally, Stephens reduced their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Matson presently has an average rating of "Hold" and an average target price of $131.67.

Matson Price Performance

Shares of NYSE:MATX traded down $1.37 during midday trading on Monday, reaching $104.08. 347,450 shares of the company's stock were exchanged, compared to its average volume of 335,282. The company's 50 day simple moving average is $108.75 and its two-hundred day simple moving average is $114.89. The firm has a market capitalization of $3.31 billion, a PE ratio of 7.04 and a beta of 1.21. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.74. The company had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $3.31 EPS. Equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.4%. This is an increase from Matson's previous quarterly dividend of $0.34. Matson's payout ratio is 9.74%.

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.