TruNorth Capital Management LLC Decreases Stock Position in Matson, Inc. (NYSE:MATX)

TruNorth Capital Management LLC trimmed its position in Matson, Inc. (NYSE:MATX) by 40.3% during the 4th quarter, HoldingsChannel reports. The firm owned 252 shares of the shipping company’s stock after selling 170 shares during the quarter. TruNorth Capital Management LLC’s holdings in Matson were worth $34,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Matson by 10.1% in 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 increased its position in shares of Matson by 43.5% during the 3rd 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 position in shares of Matson by 142.5% during the third quarter. Quest Partners LLC now owns 10,346 shares of the shipping company’s stock valued at $1,476,000 after buying an additional 6,080 shares during the period. Summit Global Investments grew its stake in shares of Matson by 78.0% during the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock valued at $1,487,000 after buying an additional 4,567 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Matson by 7.5% during the third 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. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report 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, January 2nd.

Matson Price Performance

NYSE MATX opened at $143.74 on Tuesday. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The firm’s fifty day simple moving average is $139.46 and its two-hundred day simple moving average is $141.01. 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 firm has a market capitalization of $4.77 billion, a P/E ratio of 11.96 and a beta of 1.05.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, February 6th. Matson’s dividend payout ratio is currently 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.