Daiwa Securities Group Inc. Raises Position in Matson, Inc. (NYSE:MATX)

Daiwa Securities Group Inc. lifted its holdings in Matson, Inc. (NYSE:MATX) by 200.0% in the third quarter, Holdings Channel reports. The firm owned 1,800 shares of the shipping company’s stock after buying an additional 1,200 shares during the period. Daiwa Securities Group Inc.’s holdings in Matson were worth $257,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MATX. Price T Rowe Associates Inc. MD grew its holdings in shares of Matson by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company’s stock valued at $3,058,000 after buying an additional 1,214 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Matson during the 1st quarter worth about $71,000. CWM LLC grew its stake in Matson by 58.1% during the 2nd quarter. CWM LLC now owns 664 shares of the shipping company’s stock valued at $87,000 after purchasing an additional 244 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Matson by 2.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 25,032 shares of the shipping company’s stock valued at $3,278,000 after purchasing an additional 715 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Matson by 164.4% in the second quarter. SG Americas Securities LLC now owns 4,272 shares of the shipping company’s stock worth $560,000 after purchasing an additional 2,656 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MATX shares. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

Matson Stock Up 0.1 %

Matson stock opened at $153.18 on Monday. The business’s 50-day moving average price is $146.14 and its 200 day moving average price is $134.29. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. Matson, Inc. has a 52 week low of $93.94 and a 52 week high of $169.12.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.40 EPS. As a group, sell-side analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.89%. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Insider Activity at Matson

In related news, CEO Matthew J. Cox sold 6,499 shares of Matson stock in a transaction on Monday, September 30th. The stock was sold at an average price of $143.82, for a total value of $934,686.18. Following the completion of the transaction, the chief executive officer now directly owns 208,898 shares in the company, valued at approximately $30,043,710.36. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. The trade was a 9.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,145 shares of company stock valued at $2,649,185. 2.32% of the stock is owned by insiders.

Matson Profile

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.