August 20, 2023 – Russell Investments Group Ltd., a global asset management firm, has reported a significant increase in its holdings of Matson, Inc. (NYSE:MATX) shares during the first quarter of this year. According to their Form 13F filing with the Securities & Exchange Commission, the company’s stake in Matson grew by 98.3% during this period. This boost in holdings resulted from the purchase of an additional 64,868 shares, bringing their total ownership to 130,830 shares.
At the end of the first quarter, Russell Investments Group Ltd.’s holdings of Matson were valued at $7,807,000. This amount accounted for approximately 0.36% of Matson’s overall worth during that reporting period.
Matson is a shipping company that operates in the Pacific Ocean region and provides transportation services for various goods and products. With a history dating back over a century, the company has established itself as a key player in the industry.
In addition to its increased holdings, Russell Investments Group Ltd. highlights another recent development concerning Matson – their announcement of a quarterly dividend payout. Shareholders who were recorded as owners on August 3rd will receive a dividend payment of $0.32 per share on September 7th.
This new dividend amount represents an increase from Matson’s previous quarterly payout of $0.31 per share. The ex-dividend date for this distribution was set for August 2nd.
With an annualized dividend totaling $1.28 per share and a yield of approximately 1.45%, investors can expect modest returns from their investment in Matson.
Currently, Matson’s dividend payout ratio stands at around 10.50%. This figure indicates the proportion of its earnings paid out to shareholders in dividends.
Russell Investments Group Ltd.’s increased holdings and favorable dividends signal confidence in Matson’s prospects among investors. As the shipping industry continues to play a crucial role in global trade, companies like Matson are positioned to benefit from increased demand for transport services.
Disclaimer: The information provided in this article should not be considered as financial or investment advice. Readers are advised to conduct their own research and consult with a professional advisor before making any investment decisions.
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Institutional Investors Increase Ownership and Financial Performance Predictions for Matson Shipping Company
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”MATX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In recent times, there has been a notable increase in the buying and selling of shares of Matson, a leading shipping company. Alongside individual investors, institutional investors have also participated in this activity. One such investor is Dimensional Fund Advisors LP, which augmented its position in Matson by 11.0% during the fourth quarter. This increase led to the acquisition of an additional 240,119 shares, amounting to a total ownership of 2,432,062 shares worth $152,031,000.
Similarly, Pacer Advisors Inc., another institutional investor, saw significant growth in its ownership of Matson shares. In the fourth quarter, it expanded its position by 62.7%, acquiring an additional 181,751 shares. As a result, Pacer Advisors Inc. now owns 471,505 shares valued at $29,474,000.
The Vanguard Group Inc., one of the largest investment management companies globally, also increased its stake in Matson during the first quarter by 3.4%. The group purchased an additional 153,723 shares and now possesses a total of 4,655,892 shares worth $561,594,000.
Goldman Sachs Group Inc., known for its financial expertise and market presence, considerably elevated its position in Matson as well. It acquired an extra 149,444 shares during the first quarter to reach a total ownership of 285,393 shares valued at $34,424m.
Lastly,T.RowePrice Investment Management Inc., significantly boosted its position in Matson by approximately six times during the fourth quarter – owning now144987shares valuing at$9m.
This surge in activity suggests heightened interest from institutional investors and hedge funds who currently hold around 84.81% ownership of Matson’s stock.
Various research firms have also recently provided their insights on MATX stock. StockNews.com upgraded their rating from “hold” to “buy” in a research report on Wednesday. Stifel Nicolaus, in their research report on August 2nd, raised their target price from $86.00 to $90.00 and assigned a “hold” rating to the company. Furthermore, Stephens increased their target price from $73.00 to $110.00 and maintained an “equal weight” rating on Matson in their research report also released on August 2nd.
As of Friday, MATX stock opened at $88.37 per share. The company demonstrates a current ratio and quick ratio of 1.05 respectively, indicating its strong ability to meet short-term obligations. Additionally, it boasts a debt-to-equity ratio of 0.18 which reflects its relatively low level of financial leverage.
With a market capitalization of $3.12 billion, Matson’s stock is traded at a P/E ratio of 7.25 – an indicator that investors perceive it as being undervalued compared to competitors within the industry. Finally, the stock exhibits a beta value of 1.21 signifying moderate volatility when compared against market fluctuations.
Regarding recent financial performance, Matson (NYSE:MATX) reported earnings per share (EPS) of $2.26 for the second quarter meeting analysts’ expectations precisely.The company generated revenue worth $773.40 million during this period compared to an analyst consensus estimate of $762.35 million.
In terms of profitability, Matson witnessed a net margin of 13.52% during the second quarter and achieved a return on equity (ROE) of 20.04%. It is important to note that this quarter’s revenue indicates a decrease by 38% year-on-year.
Overall,and considering these factors along with expert predictions from analysts following Matson’s performance closely,it is projected that the company will post earnings per share (EPS) amounting to $5.81 for the current fiscal year.
Investors and market participants should continue to monitor Matson’s performance as well as any further developments in institutional ownership, research firm ratings, and financial indicators.
