Hsbc Holdings PLC Acquires New Holdings in Matson, Inc. $MATX

Key Points

• HSBC Holdings initiated a Matson position in the second quarter, purchasing 9,871 shares valued at approximately $1.88 million. Institutional investors collectively own 84.76% of MATX.
• Analyst sentiment remains positive, with Matson holding a consensus “Buy” rating and an average price target of $232.33, despite one recent downgrade to “Hold.”
• Matson reported strong quarterly results, with revenue up 16.7% year over year and EPS of $4.27 surpassing estimates. The company also raised its quarterly dividend to $0.38 per share, while insiders sold more than $3.2 million of stock over the past quarter.

Hsbc Holdings PLC bought a new stake in Matson, Inc. (NYSE:MATX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,871 shares of the shipping company's stock, valued at approximately $1,878,000.

Several other institutional investors also recently modified their holdings of the stock. Allworth Financial LP bought a new stake in Matson during the 2nd quarter worth $28,000. Danske Bank A S acquired a new stake in shares of Matson during the fourth quarter valued at about $25,000. Global Retirement Partners LLC bought a new stake in shares of Matson during the second quarter worth about $44,000. SouthState Bank Corp bought a new stake in shares of Matson during the fourth quarter worth about $31,000. Finally, Headlands Technologies LLC acquired a new position in shares of Matson in the second quarter valued at approximately $28,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MATX has been the topic of several recent research reports. Zacks Research upgraded shares of Matson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Stephens lifted their price target on shares of Matson from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, Matson has a consensus rating of "Buy" and an average price target of $232.33.

Insiders Place Their Bets

In other Matson news, SVP Leonard P. Isotoff sold 1,250 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total transaction of $260,375.00. Following the sale, the senior vice president owned 6,527 shares of the company's stock, valued at approximately $1,359,574.10. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Laura L. Rascon sold 2,800 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $188.53, for a total value of $527,884.00. Following the sale, the senior vice president owned 15,656 shares of the company's stock, valued at approximately $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,262 shares of company stock valued at $3,223,716 over the last quarter. Company insiders own 2.51% of the company's stock.

Matson Stock Performance

Shares of MATX stock opened at $224.51 on Monday. The business's 50 day simple moving average is $209.37 and its 200 day simple moving average is $185.88. Matson, Inc. has a one year low of $86.97 and a one year high of $230.74. The stock has a market capitalization of $6.71 billion, a PE ratio of 15.01 and a beta of 1.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

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

Matson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a dividend of $0.38 per share. This is a boost from Matson's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 6th. Matson's payout ratio is 10.16%.

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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