Hsbc Holdings PLC Lowers Holdings in Matson, Inc. (NYSE:MATX)

Hsbc Holdings PLC cut its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 28.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,190 shares of the shipping company's stock after selling 4,465 shares during the period. Hsbc Holdings PLC's holdings in Matson were worth $1,518,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MATX. JPMorgan Chase & Co. boosted its holdings in Matson by 10.1% in the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company's stock worth $40,927,000 after acquiring an additional 26,366 shares in the last quarter. Boston Partners raised its position in shares of Matson by 5.0% in the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company's stock valued at $24,707,000 after buying an additional 8,704 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Matson in the 4th quarter worth $4,328,000. Bryce Point Capital LLC purchased a new stake in shares of Matson during the 4th quarter valued at approximately $544,000. Finally, Forest Avenue Capital Management LP lifted its holdings in shares of Matson by 1.5% in the 4th quarter. Forest Avenue Capital Management LP now owns 232,172 shares of the shipping company's stock worth $31,306,000 after acquiring an additional 3,334 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the sale, the senior vice president now directly owns 8,425 shares of the company's stock, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the completion of the sale, the executive vice president now directly owns 25,192 shares of the company's stock, valued at $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Price Performance

MATX stock traded down $3.10 during trading on Monday, reaching $110.04. 511,971 shares of the company were exchanged, compared to its average volume of 310,804. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The stock's 50 day moving average price is $119.12 and its 200 day moving average price is $135.59. Matson, Inc. has a 52-week low of $92.90 and a 52-week high of $169.12. The company has a market cap of $3.61 billion, a P/E ratio of 9.15 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.46). Matson had a return on equity of 16.89% and a net margin of 12.37%. As a group, analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's payout ratio is currently 9.69%.

Wall Street Analyst Weigh In

Several research analysts have commented on MATX shares. Stephens boosted their price target on shares of Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on shares of Matson from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group started coverage on shares of Matson in a report on Monday, April 28th. They set a "buy" rating and a $125.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.33.

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.