Matson, Inc. $MATX Stock Holdings Lifted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its holdings in Matson, Inc. by 10.9% in the first quarter, owning a total of 461,769 shares valued at $59.19 million.
• Matson recently reported earnings of $2.92 per share, exceeding analysts' expectations of $2.18, alongside revenue of $830.5 million.
• The company also raised its quarterly dividend from $0.34 to $0.36 per share, indicating a positive trend in shareholder returns.

Ameriprise Financial Inc. lifted its position in Matson, Inc. (NYSE:MATX - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,769 shares of the shipping company's stock after acquiring an additional 45,296 shares during the period. Ameriprise Financial Inc. owned about 1.41% of Matson worth $59,188,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Matson during the first quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new stake in shares of Matson during the fourth quarter worth approximately $36,000. Covestor Ltd boosted its holdings in shares of Matson by 30.4% during the first quarter. Covestor Ltd now owns 764 shares of the shipping company's stock worth $98,000 after purchasing an additional 178 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Matson by 676.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the shipping company's stock worth $99,000 after purchasing an additional 670 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Matson by 112.2% during the first quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock worth $100,000 after purchasing an additional 414 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Price Performance

NYSE MATX opened at $105.36 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.35 billion, a PE ratio of 7.12 and a beta of 1.22. The company has a 50 day moving average price of $108.97 and a two-hundred day moving average price of $115.76. Matson, Inc. has a 12-month low of $91.75 and a 12-month high of $169.12.

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

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th will be paid a $0.36 dividend. The ex-dividend date is Thursday, August 7th. This is a positive change from Matson's previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. Matson's dividend payout ratio is presently 9.74%.

Insider Buying and Selling at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the sale, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

About Matson

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.

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