JPMorgan Chase & Co. Acquires 26,366 Shares of Matson, Inc. (NYSE:MATX)

JPMorgan Chase & Co. grew its position in Matson, Inc. (NYSE:MATX - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,968 shares of the shipping company's stock after buying an additional 26,366 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.86% of Matson worth $40,927,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC grew its position in Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company's stock worth $2,313,000 after purchasing an additional 78 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company's stock valued at $326,000 after buying an additional 91 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Matson by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company's stock valued at $237,000 after buying an additional 107 shares in the last quarter. Verition Fund Management LLC raised its position in Matson by 1.9% during the third quarter. Verition Fund Management LLC now owns 7,528 shares of the shipping company's stock valued at $1,074,000 after buying an additional 139 shares during the period. Finally, National Bank of Canada FI lifted its stake in Matson by 0.9% in the 2nd quarter. National Bank of Canada FI now owns 19,915 shares of the shipping company's stock worth $2,569,000 after acquiring an additional 172 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MATX. Wolfe Research cut Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. Stephens reaffirmed an "overweight" rating and set a $165.00 price objective on shares of Matson in a research report on Thursday.

Insider Buying and Selling

In other Matson news, SVP Leonard P. Isotoff sold 492 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now owns 4,254 shares of the company's stock, valued at $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Warren Sullivan sold 750 shares of Matson stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $165.50, for a total transaction of $124,125.00. Following the completion of the transaction, the senior vice president now directly owns 12,745 shares in the company, valued at approximately $2,109,297.50. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,646 shares of company stock worth $1,578,768. Corporate insiders own 2.32% of the company's stock.

Matson Stock Down 0.9 %

MATX traded down $1.26 during trading on Monday, reaching $138.85. 206,847 shares of the stock traded hands, compared to its average volume of 221,749. The stock's 50-day simple moving average is $149.06 and its two-hundred day simple moving average is $138.24. 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 fifty-two week low of $100.50 and a fifty-two week high of $169.12. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 11.55 and a beta of 1.07.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to analysts' expectations of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.40 EPS. As a group, equities research analysts expect that Matson, Inc. will post 13.19 EPS for the current year.

Matson Dividend Announcement

The firm 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 0.98%. The ex-dividend date was Thursday, November 7th. Matson's payout ratio is presently 11.31%.

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.