JPMorgan Chase & Co. Grows Stock Position in Matson, Inc. (NYSE:MATX)

JPMorgan Chase & Co. increased its stake in shares of Matson, Inc. (NYSE:MATX) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,968 shares of the shipping company’s stock after purchasing an additional 26,366 shares during the quarter. JPMorgan Chase & Co.’s holdings in Matson were worth $40,927,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new position in Matson in the second quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Matson in the 3rd quarter valued at about $50,000. Daiwa Securities Group Inc. purchased a new position in Matson during the 2nd quarter worth approximately $79,000. DekaBank Deutsche Girozentrale acquired a new position in Matson during the third quarter worth approximately $92,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Matson in the second quarter valued at about $105,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the sale, the executive vice president now directly owns 32,952 shares in the company, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,646 shares of company stock valued at $1,578,768. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MATX shares. Stephens reissued an “overweight” rating and set a $165.00 price target on shares of Matson in a report on Thursday. Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

Matson Trading Up 1.7 %

NYSE MATX opened at $140.11 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.65 billion, a P/E ratio of 11.66 and a beta of 1.07. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12. The firm has a 50-day moving average price of $148.95 and a 200 day moving average price of $138.00.

Matson (NYSE:MATX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.40 earnings per share. Equities research analysts expect that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 7th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, November 7th. Matson’s dividend payout ratio (DPR) is 11.31%.

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.