Bokf Na Has $848,000 Stock Position in Matson, Inc. (NYSE:MATX)

Bokf Na boosted its position in Matson, Inc. (NYSE:MATX) by 87.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,475 shares of the shipping company’s stock after buying an additional 3,029 shares during the quarter. Bokf Na’s holdings in Matson were worth $848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in Matson in the 2nd quarter valued at $27,000. International Assets Investment Management LLC acquired a new position in Matson in the 2nd quarter valued at $39,000. Security National Bank acquired a new position in Matson in the 4th quarter valued at $36,000. Blue Trust Inc. grew its stake in Matson by 226.9% in the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after buying an additional 413 shares during the last quarter. Finally, Evermay Wealth Management LLC acquired a new position in Matson in the 4th quarter valued at $66,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens raised their target price on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Insider Activity

In other news, CFO Joel M. Wine sold 8,941 shares of Matson stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the sale, the chief financial officer now directly owns 151,329 shares in the company, valued at approximately $19,491,175.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matson news, CFO Joel M. Wine sold 8,941 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $128.80, for a total value of $1,151,600.80. Following the transaction, the chief financial officer now directly owns 151,329 shares in the company, valued at $19,491,175.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now owns 12,369 shares in the company, valued at $1,597,208.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,376 shares of company stock worth $13,565,120. Corporate insiders own 2.32% of the company’s stock.

Matson Stock Performance

NYSE MATX opened at $132.63 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 15.64 and a beta of 1.07. The company’s fifty day moving average is $130.47 and its two-hundred day moving average is $120.49. Matson, Inc. has a 52-week low of $82.68 and a 52-week high of $138.84.

Matson (NYSE:MATX) last issued its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The business had revenue of $847.40 million for the quarter, compared to analyst estimates of $861.68 million. Equities research analysts forecast that Matson, Inc. will post 11.45 EPS for the current year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st were given a dividend of $0.34 per share. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s payout ratio is 16.04%.

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.