Janney Montgomery Scott LLC Buys 9,861 Shares of Matson, Inc. $MATX

Janney Montgomery Scott LLC raised its holdings in Matson, Inc. (NYSE:MATX) by 31.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,489 shares of the shipping company’s stock after buying an additional 9,861 shares during the quarter. Janney Montgomery Scott LLC owned 0.13% of Matson worth $4,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Archford Capital Strategies LLC acquired a new stake in Matson in the 2nd quarter valued at approximately $1,009,000. State of Alaska Department of Revenue increased its position in Matson by 5.7% during the second quarter. State of Alaska Department of Revenue now owns 19,443 shares of the shipping company’s stock worth $2,164,000 after acquiring an additional 1,041 shares during the period. Ruffer LLP bought a new position in Matson during the second quarter worth $3,423,000. Oliver Luxxe Assets LLC increased its position in Matson by 1.4% during the second quarter. Oliver Luxxe Assets LLC now owns 13,954 shares of the shipping company’s stock worth $1,554,000 after acquiring an additional 198 shares during the period. Finally, GAMMA Investing LLC increased its position in Matson by 122.1% during the second quarter. GAMMA Investing LLC now owns 3,050 shares of the shipping company’s stock worth $340,000 after acquiring an additional 1,677 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 target price on shares of Matson in a research report on Friday, August 1st. Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. 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 given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $131.67.

Matson Trading Down 2.5%

MATX stock opened at $96.33 on Wednesday. The business has a fifty day moving average price of $104.54 and a 200 day moving average price of $108.66. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.51 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.

Matson (NYSE:MATX) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm had revenue of $830.50 million during the quarter, compared to analysts’ expectations of $727.30 million. During the same period last year, the firm posted $3.31 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Matson

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.