Nomura Asset Management Co. Ltd. Sells 2,948 Shares of Matson, Inc. $MATX

Nomura Asset Management Co. Ltd. reduced its position in shares of Matson, Inc. (NYSE:MATX) by 10.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,459 shares of the shipping company’s stock after selling 2,948 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.08% of Matson worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Matson by 88.9% during the 4th quarter. BNP Paribas Financial Markets now owns 41,925 shares of the shipping company’s stock valued at $5,180,000 after buying an additional 19,734 shares during the last quarter. Norges Bank bought a new stake in Matson during the 4th quarter valued at $17,276,000. Royce & Associates LP raised its holdings in Matson by 59.3% during the 4th quarter. Royce & Associates LP now owns 153,566 shares of the shipping company’s stock valued at $18,973,000 after buying an additional 57,175 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Matson by 60.4% in the 4th quarter. Clearstead Advisors LLC now owns 563 shares of the shipping company’s stock worth $70,000 after purchasing an additional 212 shares in the last quarter. Finally, New Age Alpha Advisors LLC raised its holdings in Matson by 3,920.5% in the 4th quarter. New Age Alpha Advisors LLC now owns 40,245 shares of the shipping company’s stock worth $4,972,000 after purchasing an additional 39,244 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective for the company. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Matson Stock Up 1.2%

Shares of Matson stock opened at $188.00 on Friday. 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 has a 50-day moving average of $175.98 and a 200 day moving average of $153.18. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 13.81 and a beta of 1.29. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $192.00.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. Matson’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. As a group, sell-side analysts anticipate that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.58%.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 1,520 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total transaction of $275,196.00. Following the completion of the sale, the senior vice president directly owned 9,708 shares in the company, valued at approximately $1,757,633.40. This trade represents a 13.54% decrease in their position. The transaction was disclosed in a document filed 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 dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the sale, the executive vice president owned 25,506 shares of the company’s stock, valued at approximately $4,595,926.14. This represents a 21.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,672 shares of company stock worth $4,210,279 in the last 90 days. 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.