Cambria Investment Management L.P. Trims Holdings in Matson, Inc. $MATX

Cambria Investment Management L.P. trimmed its holdings in Matson, Inc. (NYSE:MATX) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,021 shares of the shipping company’s stock after selling 5,542 shares during the quarter. Cambria Investment Management L.P. owned about 0.26% of Matson worth $7,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Headlands Technologies LLC purchased a new position in shares of Matson during the second quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Matson during the third quarter valued at approximately $30,000. Ameriflex Group Inc. boosted its position in shares of Matson by 100.8% in the 3rd quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Matson by 482.8% in the 3rd quarter. State of Wyoming now owns 542 shares of the shipping company’s stock worth $53,000 after purchasing an additional 449 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 opened at $156.07 on Thursday. 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, Inc. has a one year low of $86.97 and a one year high of $177.51. The firm has a market capitalization of $4.75 billion, a P/E ratio of 11.20 and a beta of 1.32. The business has a fifty day moving average of $156.89 and a 200 day moving average of $124.97.

Matson (NYSE:MATX) last posted its earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.91. The company had revenue of $851.90 million for the quarter, compared to the consensus estimate of $847.30 million. Matson had a return on equity of 16.63% and a net margin of 13.30%.Matson’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.80 earnings per share. As a group, sell-side 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. Stockholders of record on Thursday, February 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, February 5th. Matson’s dividend payout ratio is 10.33%.

Wall Street Analyst Weigh In

MATX has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $167.00 price objective on shares of Matson in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Stephens raised their price target on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $156.25.

Insider Transactions at Matson

In related news, EVP Vic S. Angoco, Jr. sold 6,189 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $165.31, for a total value of $1,023,103.59. Following the transaction, the executive vice president owned 14,800 shares of the company’s stock, valued at approximately $2,446,588. This trade represents a 29.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter T. Heilmann sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the sale, the executive vice president 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 ninety days, insiders have sold 42,550 shares of company stock worth $7,034,602. 2.51% of the stock is currently owned by corporate insiders.

Matson Company Profile

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.