Deutsche Bank AG Acquires 22,164 Shares of Matson, Inc. (NYSE:MATX)

Deutsche Bank AG lifted its holdings in shares of Matson, Inc. (NYSE:MATX) by 122.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,216 shares of the shipping company’s stock after buying an additional 22,164 shares during the period. Deutsche Bank AG owned about 0.12% of Matson worth $5,423,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Matson by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock valued at $43,570,000 after acquiring an additional 36,156 shares in the last quarter. Boston Partners raised its position in Matson by 5.0% in the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company’s stock valued at $24,707,000 after purchasing an additional 8,704 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Matson during the fourth quarter valued at about $4,328,000. Ameriprise Financial Inc. grew its holdings in shares of Matson by 73.9% during the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock worth $56,157,000 after purchasing an additional 177,000 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new stake in shares of Matson during the fourth quarter worth about $544,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MATX shares. Jefferies Financial Group raised their price objective on shares of Matson from $125.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Stephens cut their price target on shares of Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus reduced their price objective on shares of Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Finally, StockNews.com downgraded Matson from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Matson presently has a consensus rating of “Hold” and a consensus target price of $138.33.

Matson Price Performance

Matson stock opened at $114.81 on Monday. The stock’s 50 day moving average is $113.18 and its 200 day moving average is $133.73. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The firm has a market cap of $3.75 billion, a P/E ratio of 9.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. During the same quarter last year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a yield of 1.18%. Matson’s dividend payout ratio (DPR) is currently 8.96%.

Insiders Place Their Bets

In other news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the sale, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. The trade was a 24.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Laura L. Rascon sold 1,700 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total transaction of $200,923.00. Following the transaction, the senior vice president now owns 14,712 shares in the company, valued at $1,738,811.28. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,682 shares of company stock worth $1,550,551. Company insiders own 2.05% of the company’s stock.

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.