Brandywine Global Investment Management LLC Has $15.36 Million Stake in Matson, Inc. $MATX

Key Points

• Brandywine Global Investment Management LLC increased its stake in Matson, Inc. by 17.9%, acquiring an additional 18,203 shares during the first quarter, now owning approximately 119,834 shares valued at $15.36 million.
• Matson, Inc. reported $2.92 earnings per share (EPS) for the last quarter, significantly surpassing analyst expectations of $2.18, though revenue declined by 2.0% year-over-year.
• The company announced a quarterly dividend increase to $0.36 per share, with a 1.4% dividend yield and a payout ratio of 9.74%.

Brandywine Global Investment Management LLC boosted its position in Matson, Inc. (NYSE:MATX - Free Report) by 17.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,834 shares of the shipping company's stock after buying an additional 18,203 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.37% of Matson worth $15,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. grew its stake in Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after buying an additional 86 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Matson in the 4th quarter valued at $36,000. Covestor Ltd boosted its holdings in Matson by 30.4% in the 1st quarter. Covestor Ltd now owns 764 shares of the shipping company's stock valued at $98,000 after purchasing an additional 178 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Matson by 676.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the shipping company's stock valued at $99,000 after purchasing an additional 670 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Matson by 112.2% in the 1st quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock valued at $100,000 after purchasing an additional 414 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Price Performance

MATX stock traded up $0.2580 during trading on Tuesday, hitting $105.4380. 237,025 shares of the stock traded hands, compared to its average volume of 410,721. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 7.13 and a beta of 1.22. The company has a 50 day simple moving average of $109.95 and a 200 day simple moving average of $116.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same period last year, the firm posted $3.31 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, August 7th. This is a boost from Matson's previous quarterly dividend of $0.34. Matson's dividend payout ratio is 9.74%.

Analyst Upgrades and Downgrades

MATX has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Jefferies Financial Group reissued a "hold" rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. Finally, Stephens reduced their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Matson has an average rating of "Hold" and an average target price of $131.67.

Insider Buying and Selling at Matson

In related news, Director Bradley D. Tilden acquired 2,752 shares of the stock in a transaction on Thursday, May 29th. The stock was purchased at an average price of $111.76 per share, for a total transaction of $307,563.52. Following the transaction, the director owned 8,180 shares of the company's stock, valued at $914,196.80. The trade was a 50.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher A. Scott sold 1,044 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the sale, the senior vice president owned 13,441 shares of the company's stock, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company's stock.

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.