Nuveen LLC Invests $23.33 Million in Matson, Inc. $MATX

Key Points

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Nuveen LLC bought a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 181,986 shares of the shipping company's stock, valued at approximately $23,325,000. Nuveen LLC owned about 0.55% of Matson at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MATX. Ameriflex Group Inc. acquired a new stake in Matson during the fourth quarter valued at approximately $36,000. Covestor Ltd lifted its stake in Matson by 30.4% during the first quarter. Covestor Ltd now owns 764 shares of the shipping company's stock valued at $98,000 after purchasing an additional 178 shares during the last quarter. Parallel Advisors LLC lifted its stake in Matson by 112.2% during the first quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock valued at $100,000 after purchasing an additional 414 shares during the last quarter. Curat Global LLC acquired a new stake in Matson during the first quarter valued at approximately $104,000. Finally, U S Global Investors Inc. lifted its stake in Matson by 22.9% during the first quarter. U S Global Investors Inc. now owns 1,009 shares of the shipping company's stock valued at $129,000 after purchasing an additional 188 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president owned 13,441 shares in the company, valued at approximately $1,477,703.54. This represents a 7.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leonard P. Isotoff sold 500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the transaction, the senior vice president owned 5,644 shares in the company, valued at approximately $629,136.68. This represents a 8.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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 research report on Tuesday, May 6th. 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 research report on Tuesday, May 6th. Jefferies Financial Group restated a "hold" rating and issued a $115.00 price target on shares of Matson in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $131.67.

Matson Stock Up 3.2%

Matson stock traded up $3.2580 during trading hours on Friday, hitting $106.1880. The company had a trading volume of 431,097 shares, compared to its average volume of 394,483. The firm has a market capitalization of $3.38 billion, a P/E ratio of 7.18 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. The firm's fifty day moving average is $109.33 and its 200-day moving average is $116.27. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12.

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

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th will be paid a $0.36 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.4%. This is a boost from Matson's previous quarterly dividend of $0.34. Matson's dividend payout ratio (DPR) is currently 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.