Matson, Inc. $MATX Shares Bought by Inspire Investing LLC

Key Points

• Inspire Investing LLC significantly increased its stake in Matson, Inc. by 190.2%, now holding 8,625 shares valued at approximately $1.11 million.
• Matson's recent earnings report revealed an EPS of $2.92 for the quarter, exceeding forecasts of $2.18, despite a 2% drop in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.36, increasing from its prior payment of $0.34, reflecting a positive shift in shareholder returns.

Inspire Investing LLC increased its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 190.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,625 shares of the shipping company's stock after purchasing an additional 5,653 shares during the quarter. Inspire Investing LLC's holdings in Matson were worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Matson by 11.7% in the 1st quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company's stock worth $176,000 after acquiring an additional 144 shares during the period. SG Americas Securities LLC purchased a new position in Matson during the first quarter worth about $507,000. Raymond James Financial Inc. raised its holdings in Matson by 91.6% during the first quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company's stock worth $7,883,000 after purchasing an additional 29,400 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Matson by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company's stock valued at $12,390,000 after purchasing an additional 7,920 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Matson by 10.9% in the 1st quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company's stock valued at $59,188,000 after purchasing an additional 45,296 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Price Performance

MATX traded up $1.20 during trading on Thursday, reaching $107.31. 134,488 shares of the stock were exchanged, compared to its average volume of 397,687. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 7.25 and a beta of 1.21. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12. The business's 50 day moving average price is $106.78 and its two-hundred day moving average price is $111.72.

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

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 7th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.44 annualized dividend and a dividend yield of 1.3%. This is an increase from Matson's previous quarterly dividend of $0.34. Matson's payout ratio is presently 9.74%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Matson from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 price objective on shares of Matson in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $131.67.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president owned 13,441 shares of the company's stock, valued at approximately $1,477,703.54. This represents a 7.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.05% of the company's stock.

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.