RHS Financial LLC Sells 193 Shares of Matson, Inc. $MATX

RHS Financial LLC decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,038 shares of the shipping company’s stock after selling 193 shares during the quarter. RHS Financial LLC’s holdings in Matson were worth $227,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Matson by 11.7% during the first quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company’s stock valued at $176,000 after acquiring an additional 144 shares during the period. SG Americas Securities LLC bought a new stake in shares of Matson during the first quarter valued at approximately $507,000. Raymond James Financial Inc. raised its stake in shares of Matson by 91.6% in the first 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 in the last quarter. Envestnet Asset Management Inc. lifted its position in Matson by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company’s stock worth $12,390,000 after purchasing an additional 7,920 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Matson by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock worth $59,188,000 after buying an additional 45,296 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. Zacks Research raised shares of Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Matson in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $131.67.

Matson Price Performance

NYSE:MATX opened at $88.04 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.80 billion, a PE ratio of 5.95 and a beta of 1.21. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $169.12. The company’s 50-day moving average price is $103.69 and its two-hundred day moving average price is $107.68.

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

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the business’s 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 owned 13,441 shares of the company’s stock, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.05% of the company’s stock.

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.