Hsbc Holdings PLC Raises Holdings in Matson, Inc. $MATX

Hsbc Holdings PLC increased its stake in shares of Matson, Inc. (NYSE:MATX) by 43.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,907 shares of the shipping company’s stock after acquiring an additional 3,302 shares during the quarter. Hsbc Holdings PLC’s holdings in Matson were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MATX. Danske Bank A S purchased a new stake in shares of Matson during the fourth quarter valued at approximately $25,000. SouthState Bank Corp bought a new position in shares of Matson in the fourth quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in shares of Matson in the second quarter worth $28,000. EverSource Wealth Advisors LLC increased its stake in shares of Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after buying an additional 94 shares during the period. Finally, Torren Management LLC bought a new stake in Matson during the 4th quarter valued at $34,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Price Performance

MATX opened at $203.38 on Thursday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $207.88. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 14.94 and a beta of 1.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $186.21 and a two-hundred day simple moving average of $164.48.

Matson (NYSE:MATX) last announced its quarterly earnings data 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. Matson had a net margin of 12.92% and a return on equity of 15.90%. The business had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the prior year, the company earned $2.18 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Research analysts predict that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Increases Dividend

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

Insider Buying and Selling

In related news, EVP Peter T. Heilmann sold 7,173 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the transaction, the executive vice president owned 25,506 shares in the company, valued at $4,595,926.14. The trade was a 21.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Grace M. Cerocke sold 1,200 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $183.57, for a total transaction of $220,284.00. Following the sale, the senior vice president owned 17,986 shares of the company’s stock, valued at approximately $3,301,690.02. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,963 shares of company stock worth $4,349,268 over the last three months. Corporate insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

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

Matson Profile

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.