Matson, Inc. $MATX Stock Holdings Trimmed by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its position in Matson, Inc. (NYSE:MATX) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,226 shares of the shipping company’s stock after selling 6,275 shares during the quarter. Ritholtz Wealth Management’s holdings in Matson were worth $1,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MATX. Federated Hermes Inc. increased its holdings in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. Headlands Technologies LLC bought a new stake in Matson in the second quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in Matson in the third quarter valued at about $30,000. Ameriflex Group Inc. increased its holdings in Matson by 100.8% in the third quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company’s stock valued at $50,000 after buying an additional 256 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Matson by 482.8% during the third quarter. State of Wyoming now owns 542 shares of the shipping company’s stock valued at $53,000 after purchasing an additional 449 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MATX. Stephens upped their target price on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $156.25.

Matson Stock Performance

Shares of MATX stock opened at $171.11 on Wednesday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 12.27 and a beta of 1.33. The business has a 50 day simple moving average of $162.70 and a 200 day simple moving average of $133.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Matson (NYSE:MATX) last issued its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The business had revenue of $851.90 million during the quarter, compared to analyst estimates of $847.30 million. During the same period in the prior year, the company posted $3.80 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, February 5th. Matson’s dividend payout ratio is 10.33%.

Insiders Place Their Bets

In related news, SVP Richard S. Kinney sold 5,225 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.32, for a total value of $863,797.00. Following the completion of the transaction, the senior vice president directly owned 6,746 shares of the company’s stock, valued at $1,115,248.72. This represents a 43.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 13,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total value of $2,150,980.00. Following the completion of the transaction, the executive vice president directly owned 32,679 shares of the company’s stock, valued at $5,407,067.34. This trade represents a 28.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,550 shares of company stock worth $7,034,602. 2.51% of the stock is owned by company insiders.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.