Hancock Whitney Corp Makes New $211,000 Investment in Matson, Inc. (NYSE:MATX)

Hancock Whitney Corp bought a new stake in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,477 shares of the shipping company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in 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 worth $3,058,000 after purchasing an additional 1,214 shares during the period. Tidal Investments LLC lifted its holdings in Matson by 8.7% in the first quarter. Tidal Investments LLC now owns 21,271 shares of the shipping company’s stock valued at $2,391,000 after acquiring an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Matson in the first quarter worth approximately $71,000. CWM LLC increased its stake in Matson by 58.1% during the second quarter. CWM LLC now owns 664 shares of the shipping company’s stock worth $87,000 after acquiring an additional 244 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in 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. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of recent analyst reports. StockNews.com downgraded 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 research note on Monday, November 18th. Finally, Stephens increased their price objective on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Matson Price Performance

MATX stock opened at $153.11 on Thursday. The business’s fifty day moving average price is $145.45 and its 200 day moving average price is $133.63. Matson, Inc. has a 12-month low of $93.75 and a 12-month high of $169.12. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.08 billion, a PE ratio of 12.74 and a beta of 1.06.

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

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a $0.34 dividend. 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 is presently 11.31%.

Insiders Place Their Bets

In related news, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Cox sold 7,500 shares of Matson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares of the company’s stock, valued at $29,546,006.49. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,645 shares of company stock worth $3,677,960 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.

About Matson

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.