Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 16,329 Matson, Inc. $MATX

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Matson, Inc. (NYSE:MATX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 16,329 shares of the shipping company’s stock, valued at approximately $2,017,000.

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

Matson Stock Performance

Shares of MATX opened at $188.38 on Thursday. Matson, Inc. has a one year low of $86.97 and a one year high of $189.99. The company has a 50-day moving average of $169.62 and a two-hundred day moving average of $147.14. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 13.84 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

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

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Analyst Ratings Changes

Several research firms have commented on MATX. Stephens raised their target price on shares of Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Zacks Research raised shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Matson presently has a consensus rating of “Moderate Buy” and an average price target of $181.25.

Insider Buying and Selling at Matson

In related news, Director Bradley D. Tilden sold 1,594 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $181.85, for a total transaction of $289,868.90. Following the completion of the sale, the director directly owned 7,555 shares in the company, valued at approximately $1,373,876.75. This trade represents a 17.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kuuhaku T. Park sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the sale, the senior vice president owned 10,984 shares of the company’s stock, valued at approximately $1,979,206.96. This represents a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,993 shares of company stock valued at $10,360,506 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.

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.