Matson, Inc. $MATX Stake Cut by Inspire Investing LLC

Key Points

• Inspire Investing LLC has reduced its stake in Matson, Inc. (NYSE:MATX) by 59.1%, resulting in ownership of 3,531 shares worth approximately $393,000.
• Matson reported $2.92 EPS for the last quarter, exceeding expectations, despite a 2.0% decrease in revenue year-over-year.
• The company currently holds a consensus rating of "Hold" from analysts, with an average price target of $131.67.

Inspire Investing LLC reduced its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 59.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,531 shares of the shipping company's stock after selling 5,094 shares during the period. Inspire Investing LLC's holdings in Matson were worth $393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ethic Inc. lifted its stake in Matson by 2.7% in the 1st quarter. Ethic Inc. now owns 4,092 shares of the shipping company's stock worth $537,000 after acquiring an additional 108 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in Matson by 5.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock worth $281,000 after acquiring an additional 109 shares in the last quarter. Xponance Inc. lifted its stake in Matson by 4.3% in the 1st quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock worth $355,000 after acquiring an additional 113 shares in the last quarter. Cerity Partners LLC lifted its stake in Matson by 4.6% in the 1st quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock worth $338,000 after acquiring an additional 117 shares in the last quarter. Finally, Hancock Whitney Corp lifted its stake in Matson by 8.3% in the 1st quarter. Hancock Whitney Corp now owns 1,730 shares of the shipping company's stock worth $222,000 after acquiring an additional 132 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Stock Performance

Shares of MATX stock opened at $90.24 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $169.12. The stock's 50-day moving average is $103.32 and its two-hundred day moving average is $107.42. The firm has a market cap of $2.87 billion, a P/E ratio of 6.10 and a beta of 1.21.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on MATX shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Matson in a research note on Wednesday, October 8th. Zacks Research raised Matson from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $115.00 target price on shares of Matson in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Matson presently has a consensus rating of "Hold" and an average price target of $131.67.

Insider Activity at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total transaction of $114,777.36. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.

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