Hsbc Holdings PLC Takes Position in Matson, Inc. $MATX

Hsbc Holdings PLC bought a new position in shares of Matson, Inc. (NYSE:MATX) during the second quarter, Holdings Channel.com reports. The fund bought 9,871 shares of the shipping company’s stock, valued at approximately $1,878,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Matson by 3.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock valued at $462,000 after purchasing an additional 80 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $32,000 after buying an additional 94 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Matson by 0.3% in the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after buying an additional 104 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Matson by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock valued at $2,418,000 after buying an additional 107 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Matson during the second quarter valued at about $28,000. 84.76% of the stock is currently owned by institutional investors.

Matson Price Performance

Matson stock opened at $224.51 on Monday. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $230.74. The company’s 50 day moving average price is $209.37 and its two-hundred day moving average price is $185.88. The stock has a market cap of $6.71 billion, a P/E ratio of 15.01 and a beta of 1.27. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. The company had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%.Matson’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the business posted $2.92 earnings per share. On average, equities analysts predict that Matson, Inc. will post 16.01 earnings per share for the current year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. Matson’s payout ratio is 10.16%.

Insider Activity

In other news, EVP Vic S. Angoco, Jr. sold 2,293 shares of Matson stock in a transaction on Monday, August 24th. The stock was sold at an average price of $222.76, for a total transaction of $510,788.68. Following the sale, the executive vice president directly owned 12,507 shares in the company, valued at $2,786,059.32. The trade was a 15.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Leonard P. Isotoff sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total transaction of $260,375.00. Following the completion of the transaction, the senior vice president directly owned 6,527 shares in the company, valued at $1,359,574.10. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,262 shares of company stock worth $3,223,716. 2.51% of the stock is owned by insiders.

Analyst Ratings Changes

MATX has been the subject of several recent research reports. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. JPMorgan Chase & Co. lifted their price target on Matson from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research raised Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Stephens increased their price objective on Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $232.33.

Matson Company 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.