Matson, Inc. $MATX Position Increased by Retirement Planning Group LLC

Retirement Planning Group LLC increased its stake in Matson, Inc. (NYSE:MATX) by 45.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,667 shares of the shipping company’s stock after acquiring an additional 833 shares during the period. Retirement Planning Group LLC’s holdings in Matson were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MATX. Boston Partners raised its stake in Matson by 424.8% during the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock valued at $121,428,000 after acquiring an additional 775,600 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Matson during the 2nd quarter valued at $21,037,000. Nuveen LLC bought a new stake in Matson during the 1st quarter valued at $23,325,000. Kingstone Capital Partners Texas LLC bought a new stake in Matson during the 2nd quarter valued at $14,183,000. Finally, Park West Asset Management LLC bought a new stake in Matson during the 1st quarter valued at $11,535,000. Institutional investors own 84.76% of the company’s stock.

Matson Stock Down 1.6%

Shares of MATX stock opened at $93.29 on Thursday. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $169.12. The stock has a market cap of $2.97 billion, a PE ratio of 6.31 and a beta of 1.21. The business’s fifty day moving average is $101.22 and its 200-day moving average is $106.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78.

Matson (NYSE:MATX) last issued its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $830.50 million for the quarter, compared to analysts’ expectations of $727.30 million. During the same period last year, the firm earned $3.31 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MATX shares. Weiss Ratings reaffirmed 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 note on Tuesday, September 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price target on shares of Matson in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.67.

Insider Activity

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction 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 transaction, the senior vice president directly owned 13,441 shares in the company, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.05% of the stock is owned by insiders.

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.