Blue Trust Inc. Purchases 425 Shares of Matson, Inc. (NYSE:MATX)

Blue Trust Inc. lifted its stake in Matson, Inc. (NYSE:MATX) by 29.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,856 shares of the shipping company’s stock after buying an additional 425 shares during the period. Blue Trust Inc.’s holdings in Matson were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Matson by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock valued at $40,927,000 after purchasing an additional 26,366 shares in the last quarter. Intech Investment Management LLC lifted its position in Matson by 43.5% during the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company’s stock valued at $2,051,000 after purchasing an additional 4,361 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Matson by 142.5% during the 3rd quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock worth $1,476,000 after purchasing an additional 6,080 shares during the period. Summit Global Investments grew its holdings in shares of Matson by 78.0% in the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock worth $1,487,000 after purchasing an additional 4,567 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Matson by 7.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock valued at $1,437,000 after purchasing an additional 703 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In related news, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $161.26, for a total transaction of $79,339.92. Following the completion of the transaction, the senior vice president now directly owns 4,254 shares of the company’s stock, valued at approximately $686,000.04. The trade was a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rusty K. Rolfe sold 3,000 shares of Matson 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 transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,646 shares of company stock worth $1,578,768 in the last 90 days. 2.32% of the stock is owned by insiders.

Matson Stock Performance

Shares of MATX stock opened at $141.98 on Monday. Matson, Inc. has a 12 month low of $100.50 and a 12 month high of $169.12. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.72 billion, a P/E ratio of 11.81 and a beta of 1.07. The firm has a fifty day moving average price of $142.47 and a 200 day moving average price of $139.69.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 6th. Matson’s dividend payout ratio (DPR) is currently 11.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MATX shares. Stephens reiterated an “overweight” rating and issued a $165.00 target price on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research cut shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

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.