Hsbc Holdings PLC Acquires 3,302 Shares of Matson, Inc. $MATX

Hsbc Holdings PLC boosted its holdings in Matson, Inc. (NYSE:MATX) by 43.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,907 shares of the shipping company’s stock after acquiring an additional 3,302 shares during the period. Hsbc Holdings PLC’s holdings in Matson were worth $1,348,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada lifted its position in Matson by 8.3% during the first quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after purchasing an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Matson by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock valued at $2,501,000 after buying an additional 863 shares during the period. Millennium Management LLC boosted its stake in shares of Matson by 7.1% in the 1st quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after buying an additional 6,778 shares during the last quarter. NewEdge Advisors LLC bought a new position in Matson in the first quarter valued at about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Matson by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after acquiring an additional 2,492 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at Matson

In other Matson news, SVP Grace M. Cerocke sold 1,200 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the sale, the senior vice president directly owned 17,986 shares of the company’s stock, valued at $3,301,690.02. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher A. Scott sold 1,520 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the completion of the transaction, the senior vice president owned 9,708 shares in the company, valued at $1,757,633.40. The trade was a 13.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,963 shares of company stock valued at $4,349,268. 2.51% of the stock is currently owned by corporate insiders.

Matson Price Performance

NYSE MATX opened at $203.38 on Thursday. 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 12 month low of $86.97 and a 12 month high of $207.88. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 14.94 and a beta of 1.28. The company’s 50 day moving average is $186.21 and its two-hundred day moving average is $164.48.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. As a group, research analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. started coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Finally, Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

About Matson

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.