Vanguard Group Inc. Has $511.21 Million Position in Matson, Inc. (NYSE:MATX)

Key Points

• Vanguard Group Inc. reduced its stake in Matson, Inc. by 0.9% in Q1, owning 3,988,504 shares valued at $511 million after selling 36,704 shares.
• Matson recently declared a quarterly dividend of $0.36, up from $0.34, representing a 1.4% yield with a payout ratio of 9.74%.
• Despite reporting earnings of $2.92 per share, Matson's Q2 revenue fell 2% year-over-year and analysts expect the company to post 13.27 EPS for the current fiscal year.

Vanguard Group Inc. cut its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,988,504 shares of the shipping company's stock after selling 36,704 shares during the quarter. Vanguard Group Inc. owned 12.15% of Matson worth $511,207,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the period. Ameriflex Group Inc. bought a new stake in Matson during the fourth quarter valued at about $36,000. Parallel Advisors LLC boosted its position 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 in the last quarter. Curat Global LLC acquired a new stake in Matson in the first quarter worth about $104,000. Finally, U S Global Investors Inc. boosted its holdings in Matson by 22.9% in the first quarter. U S Global Investors Inc. now owns 1,009 shares of the shipping company's stock worth $129,000 after acquiring an additional 188 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Matson Stock Performance

Shares of MATX stock traded up $0.36 during trading hours on Friday, reaching $105.01. 318,898 shares of the company's stock were exchanged, compared to its average volume of 407,296. The company has a market cap of $3.34 billion, a P/E ratio of 7.10 and a beta of 1.22. The company's 50 day moving average is $110.32 and its two-hundred day moving average is $117.45. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78.

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

Matson Increases Dividend

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

Insider Activity at Matson

In related news, Director Bradley D. Tilden bought 2,752 shares of the stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, with a total value of $307,563.52. Following the completion of the acquisition, the director owned 8,180 shares of the company's stock, valued at $914,196.80. This trade represents a 50.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was 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 owned 13,441 shares of the company's stock, valued at $1,477,703.54. This trade represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Stephens decreased their target price on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group reissued a "hold" rating and set a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. Finally, Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Matson currently has an average rating of "Hold" and a consensus target price of $131.67.

Matson 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.