Retirement Planning Group LLC Acquires 231,691 Shares of Matson, Inc. $MATX

Retirement Planning Group LLC lifted its holdings in shares of Matson, Inc. (NYSE:MATX) by 12,239.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,584 shares of the shipping company’s stock after purchasing an additional 231,691 shares during the period. Matson accounts for about 1.2% of Retirement Planning Group LLC’s portfolio, making the stock its 16th biggest position. Retirement Planning Group LLC’s holdings in Matson were worth $51,304,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Gemmer Asset Management LLC acquired a new position in Matson in the third quarter valued at approximately $225,000. USA Financial Formulas bought a new position in shares of Matson during the 3rd quarter worth approximately $50,000. Ellsworth Advisors LLC boosted its holdings in shares of Matson by 21.2% during the 3rd quarter. Ellsworth Advisors LLC now owns 1,967 shares of the shipping company’s stock worth $432,000 after buying an additional 344 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Matson by 1,063.4% during the 3rd quarter. Fortitude Family Office LLC now owns 477 shares of the shipping company’s stock worth $105,000 after buying an additional 436 shares during the period. Finally, Avior Wealth Management LLC acquired a new stake in shares of Matson during the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, EVP Vic S. Angoco, Jr. sold 2,293 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $222.76, for a total transaction of $510,788.68. Following the transaction, the executive vice president directly owned 12,507 shares of the company’s stock, valued at $2,786,059.32. This represents a 15.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher A. Scott sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $219.90, for a total value of $131,940.00. Following the transaction, the executive vice president directly owned 9,354 shares in the company, valued at $2,056,944.60. The trade was a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,462 shares of company stock valued at $2,695,832. Company insiders own 2.51% of the company’s stock.

Matson Stock Performance

Shares of Matson stock opened at $231.44 on Tuesday. Matson, Inc. has a one year low of $92.64 and a one year high of $240.87. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 15.71 and a beta of 1.30. The business has a 50-day simple moving average of $225.55 and a 200 day simple moving average of $202.93. 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 posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.48. The business had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.92 EPS. On average, research analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MATX shares. Stephens lifted their price objective on shares of Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings raised shares of Matson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Freedom Broker began coverage on shares of Matson in a research note on Wednesday, September 30th. They set a “buy” rating and a $260.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Matson from $270.00 to $310.00 and gave the stock an “overweight” rating in a report on Tuesday, October 13th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.25.

Matson Company Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.