KBC Group NV Takes Position in Matson, Inc. $MATX

Key Points

• KBC Group NV initiated a new position in Matson during the first quarter, buying 34,780 shares worth about $5.7 million and ending with a 0.11% stake.
• Matson reported better-than-expected earnings for the latest quarter, with EPS of $1.85 versus estimates of $1.65, though revenue came in slightly below forecasts and was down 3.1% from a year earlier.
• The company also raised its quarterly dividend to $0.38 per share from $0.36, while analysts currently rate the stock a Moderate Buy with an average price target of $181.25.

KBC Group NV bought a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 34,780 shares of the shipping company's stock, valued at approximately $5,702,000. KBC Group NV owned 0.11% of Matson at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Matson in the fourth quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in shares of Matson during the 2nd quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson during the 3rd quarter valued at about $30,000. SouthState Bank Corp acquired a new stake in shares of Matson during the 4th quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Trading Down 1.1%

Shares of Matson stock opened at $213.44 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The firm has a market capitalization of $6.46 billion, a PE ratio of 15.68 and a beta of 1.28. The firm's 50-day moving average price is $196.58 and its 200 day moving average price is $174.19.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analysts' expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The business's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 earnings per share. On average, sell-side analysts predict that Matson, Inc. will post 14.16 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Matson's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. Matson's dividend payout ratio (DPR) is currently 10.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Matson in a report on Friday, May 29th. JPMorgan Chase & Co. began coverage on Matson in a research note on Monday, April 27th. They set an "overweight" rating and a $230.00 target price for the company. Finally, Zacks Research upgraded Matson to a "hold" rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $181.25.

Insider Buying and Selling

In other Matson news, SVP Kuuhaku T. Park sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the transaction, the senior vice president directly owned 10,984 shares of the company's stock, valued at $1,979,206.96. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $1,292,502.87. Following the transaction, the executive vice president owned 25,506 shares in the company, valued at approximately $4,595,926.14. This represents a 21.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,963 shares of company stock worth $4,349,268 in the last 90 days. Corporate insiders own 2.51% of the company's stock.

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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