Nomura Asset Management Co. Ltd. Purchases Shares of 40,287 Matson, Inc. (NYSE:MATX)

Nomura Asset Management Co. Ltd. acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 40,287 shares of the shipping company's stock, valued at approximately $5,746,000. Nomura Asset Management Co. Ltd. owned approximately 0.12% of Matson as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its position in shares of Matson by 0.5% in the third quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company's stock valued at $2,313,000 after acquiring an additional 78 shares during the period. Caprock Group LLC grew its position in shares of Matson by 4.2% in the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company's stock worth $326,000 after buying an additional 91 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Matson by 6.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company's stock worth $237,000 after buying an additional 107 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company's stock valued at $1,255,000 after acquiring an additional 124 shares in the last quarter. Finally, Verition Fund Management LLC lifted its stake in Matson by 1.9% in the third quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company's stock worth $1,074,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Stock Up 0.2 %

MATX stock traded up $0.32 during trading on Friday, hitting $146.22. 149,996 shares of the stock traded hands, compared to its average volume of 272,311. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 12.16 and a beta of 1.04. 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, Inc. has a 1 year low of $98.80 and a 1 year high of $169.12. The firm's 50 day moving average is $147.68 and its two-hundred day moving average is $136.06.

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

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, November 7th. Matson's payout ratio is presently 11.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 6th. Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a report on Monday, November 18th.

Insider Transactions at Matson

In related news, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the sale, the executive vice president now directly owns 21,871 shares of the company's stock, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Warren Sullivan sold 750 shares of Matson 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 owns 12,745 shares in the company, valued at approximately $2,109,297.50. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,145 shares of company stock worth $2,513,455 over the last three months. 2.32% of the stock is currently owned by company insiders.

Matson Company 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.