Bokf Na Buys 3,029 Shares of Matson, Inc. (NYSE:MATX)

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

A number of other institutional investors also recently modified their holdings of MATX. Johnson Investment Counsel Inc. bought a new stake in shares of Matson during the second quarter worth approximately $221,000. American Century Companies Inc. raised its stake in shares of Matson by 4.2% during the second quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock worth $119,422,000 after buying an additional 36,901 shares during the last quarter. VitalStone Financial LLC bought a new stake in shares of Matson during the second quarter worth approximately $354,000. Daiwa Securities Group Inc. bought a new stake in shares of Matson during the second quarter worth approximately $79,000. Finally, Texas Permanent School Fund Corp raised its stake in shares of Matson by 18.3% during the second quarter. Texas Permanent School Fund Corp now owns 36,169 shares of the shipping company’s stock worth $4,737,000 after buying an additional 5,594 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the transaction, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Laura L. Rascon sold 744 shares of the stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. The disclosure for this sale can be found here. Insiders sold 104,376 shares of company stock worth $13,565,120 over the last quarter. 2.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Matson Stock Up 2.6 %

Shares of NYSE:MATX opened at $132.63 on Monday. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $138.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $4.45 billion, a PE ratio of 15.64 and a beta of 1.07. The company has a 50 day moving average price of $130.47 and a two-hundred day moving average price of $120.49.

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

Matson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, August 1st. This is a boost from Matson’s previous quarterly dividend of $0.32. Matson’s dividend payout ratio is 16.04%.

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.