Matson, Inc. (NYSE:MATX) Shares Sold by Bokf Na

Bokf Na lowered its position in shares of Matson, Inc. (NYSE:MATX) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Matson in the fourth quarter valued at about $35,016,000. Ameriprise Financial Inc. boosted its position in 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 in the last quarter. First Trust Advisors LP grew its holdings in Matson by 21.5% in the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company’s stock valued at $89,432,000 after purchasing an additional 117,545 shares during the last quarter. Invesco Ltd. increased its position in shares of Matson by 45.7% in the fourth quarter. Invesco Ltd. now owns 346,589 shares of the shipping company’s stock valued at $46,734,000 after buying an additional 108,774 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Matson by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company’s stock worth $146,562,000 after buying an additional 106,490 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

MATX has been the topic of several recent research reports. StockNews.com downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus decreased their price target on shares of Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $125.00 price objective on shares of Matson in a research report on Tuesday. Finally, Stephens lowered their price objective on Matson from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $135.00.

Matson Trading Down 3.1 %

Shares of MATX opened at $96.19 on Friday. The stock’s 50-day moving average is $114.90 and its two-hundred day moving average is $134.33. The stock has a market cap of $3.16 billion, a PE 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, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12.

Matson (NYSE:MATX) last announced its earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share 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 firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $818.07 million. During the same quarter last year, the company posted $1.04 earnings per share. Matson’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders 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 annualized dividend and a dividend yield of 1.41%. Matson’s payout ratio is 8.96%.

Insider Activity at Matson

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

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.