Matson, Inc. (NYSE:MATX) Stake Decreased by Bokf Na

Bokf Na trimmed its holdings in Matson, Inc. (NYSE:MATX) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,452 shares of the shipping company’s stock after selling 236 shares during the quarter. Bokf Na’s holdings in Matson were worth $881,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Matson by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock worth $43,570,000 after purchasing an additional 36,156 shares in the last quarter. Boston Partners lifted its holdings in shares of 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 buying an additional 8,704 shares during the period. Raymond James Financial Inc. acquired a new position in Matson during the fourth quarter worth about $4,328,000. Bryce Point Capital LLC bought a new stake in Matson in the fourth quarter worth about $544,000. Finally, Forest Avenue Capital Management LP boosted its position in shares of Matson by 1.5% during the 4th quarter. Forest Avenue Capital Management LP now owns 232,172 shares of the shipping company’s stock valued at $31,306,000 after purchasing an additional 3,334 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Price Performance

NYSE MATX opened at $96.19 on Friday. The company has a 50 day simple moving average of $114.90 and a 200-day simple moving average of $134.33. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.00 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 posted its quarterly earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $818.07 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 1.41%. Matson’s dividend payout ratio is 8.96%.

Insider Activity at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares of the company’s stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the sale, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at $1,155,151.75. This represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on MATX. Stifel Nicolaus cut their target price on shares of Matson from $160.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday. Stephens cut their target price on Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com cut Matson from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 target price on shares of Matson in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

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.