Inspire Investing LLC Grows Stock Position in Matson, Inc. (NYSE:MATX)

Inspire Investing LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,972 shares of the shipping company’s stock after acquiring an additional 85 shares during the quarter. Inspire Investing LLC’s holdings in Matson were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Paradiem LLC lifted its position in Matson by 2.2% in the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company’s stock valued at $12,140,000 after purchasing an additional 1,909 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Matson by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock valued at $2,244,000 after buying an additional 80 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Matson during the 4th quarter valued at $9,788,000. Ritholtz Wealth Management boosted its position in Matson by 17.8% during the 4th quarter. Ritholtz Wealth Management now owns 16,189 shares of the shipping company’s stock valued at $2,183,000 after buying an additional 2,448 shares during the period. Finally, Oliver Luxxe Assets LLC grew its holdings in Matson by 4.9% in the 4th quarter. Oliver Luxxe Assets LLC now owns 13,546 shares of the shipping company’s stock worth $1,827,000 after acquiring an additional 635 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Down 1.5 %

Shares of Matson stock opened at $136.44 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. The company has a market cap of $4.53 billion, a P/E ratio of 11.35 and a beta of 1.07. The company’s fifty day simple moving average is $143.80 and its two-hundred day simple moving average is $139.30.

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

Matson Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. Matson’s dividend payout ratio is presently 11.31%.

Insider Buying and Selling

In other news, EVP Peter T. Heilmann sold 5,404 shares of Matson stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 32,952 shares in the company, valued at approximately $5,350,086.72. This trade represents a 14.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Warren Sullivan sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total value of $124,125.00. Following the completion of the sale, the senior vice president now owns 12,745 shares in the company, valued at $2,109,297.50. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,646 shares of company stock valued at $1,578,768 over the last ninety days. Company insiders own 2.32% of the company’s stock.

Analysts Set New Price Targets

MATX has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

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.