Farther Finance Advisors LLC Acquires 262 Shares of Matson, Inc. $MATX

Farther Finance Advisors LLC raised its holdings in Matson, Inc. (NYSE:MATX) by 42.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 877 shares of the shipping company’s stock after purchasing an additional 262 shares during the period. Farther Finance Advisors LLC’s holdings in Matson were worth $98,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Matson by 11.7% in the 1st quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company’s stock valued at $176,000 after purchasing an additional 144 shares during the period. SG Americas Securities LLC bought a new stake in Matson in the 1st quarter valued at about $507,000. Raymond James Financial Inc. boosted its holdings in Matson by 91.6% in the 1st quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company’s stock valued at $7,883,000 after purchasing an additional 29,400 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Matson by 8.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company’s stock valued at $12,390,000 after purchasing an additional 7,920 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Matson by 10.9% in the 1st quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock valued at $59,188,000 after purchasing an additional 45,296 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MATX shares. Zacks Research raised shares of Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Matson in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Matson in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $131.67.

Matson Price Performance

Shares of NYSE:MATX opened at $100.41 on Friday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 6.79 and a beta of 1.21. 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 firm has a 50 day simple moving average of $104.96 and a 200 day simple moving average of $109.10. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating 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 net margin of 14.26% and a return on equity of 18.90%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.31 EPS. Research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president owned 13,441 shares of the company’s stock, valued at $1,477,703.54. This represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.05% of the stock is currently owned by insiders.

Matson 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.