Inspire Investing LLC Sells 5,094 Shares of Matson, Inc. $MATX

Inspire Investing LLC decreased its holdings in shares of Matson, Inc. (NYSE:MATX) by 59.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,531 shares of the shipping company’s stock after selling 5,094 shares during the quarter. Inspire Investing LLC’s holdings in Matson were worth $393,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MATX. Brooklyn Investment Group bought a new stake in Matson during the 1st quarter valued at approximately $34,000. State of Wyoming boosted its stake in Matson by 495.3% during the 1st quarter. State of Wyoming now owns 381 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 317 shares during the period. IFP Advisors Inc lifted its position in shares of Matson by 42.6% in the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock worth $49,000 after acquiring an additional 132 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Matson during the 1st quarter worth approximately $78,000. Finally, Covestor Ltd grew its holdings in shares of Matson by 30.4% during the 1st quarter. Covestor Ltd now owns 764 shares of the shipping company’s stock worth $98,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Matson Price Performance

Matson 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. The company has a market capitalization of $2.87 billion, a PE ratio of 6.10 and a beta of 1.21. Matson, Inc. has a one year low of $86.97 and a one year high of $169.12. The business has a 50 day simple moving average of $103.32 and a 200 day simple moving average of $107.42.

Matson (NYSE:MATX) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.18 by $0.74. The business had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.Matson’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $3.31 EPS. On average, sell-side analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Insider Activity at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of the firm’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 transaction of $114,777.36. Following the completion of the transaction, the senior vice president owned 13,441 shares in the company, valued at $1,477,703.54. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on MATX shares. Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price objective on shares of Matson in a report on Friday, August 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $131.67.

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.