Matson, Inc. $MATX Shares Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Matson, Inc. (NYSE:MATX) by 38.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,553 shares of the shipping company’s stock after purchasing an additional 6,224 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Matson were worth $3,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Matson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock valued at $453,616,000 after purchasing an additional 21,516 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Matson by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after buying an additional 21,463 shares in the last quarter. Ameriprise Financial Inc. raised its position in Matson by 27.9% during the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after buying an additional 128,994 shares during the period. Millennium Management LLC raised its position in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares during the period. Finally, Morgan Stanley lifted its stake in Matson by 1.3% in the 4th quarter. Morgan Stanley now owns 430,292 shares of the shipping company’s stock worth $53,163,000 after acquiring an additional 5,709 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at Matson

In other news, SVP Laura L. Rascon sold 2,800 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $188.53, for a total value of $527,884.00. Following the completion of the sale, the senior vice president directly owned 15,656 shares of the company’s stock, valued at approximately $2,951,625.68. This represents a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the completion of the sale, the executive vice president owned 25,506 shares in the company, valued at approximately $4,595,926.14. The trade was a 21.95% decrease in their position. 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 owned by corporate insiders.

Matson Stock Performance

Shares of MATX opened at $202.76 on Friday. The company has a market capitalization of $6.14 billion, a PE ratio of 14.90 and a beta of 1.28. Matson, Inc. has a one year low of $86.97 and a one year high of $207.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $187.49 and its 200 day moving average price is $165.33.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The business had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the previous year, the firm earned $2.18 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect 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. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Matson’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio is presently 10.58%.

Wall Street Analysts Forecast Growth

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