Archford Capital Strategies LLC Takes $1.01 Million Position in Matson, Inc. $MATX

Key Points

• Archford Capital Strategies LLC has purchased a new position in Matson, Inc., acquiring 9,061 shares valued at approximately $1.01 million in the second quarter.
• Matson recently reported $2.92 earnings per share for the last quarter, exceeding analysts' expectations of $2.18, while revenue was $830.5 million.
• Wall Street analysts maintain a consensus rating of "Hold" for Matson, with a price target averaging $131.67.

Archford Capital Strategies LLC bought a new position in Matson, Inc. (NYSE:MATX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 9,061 shares of the shipping company's stock, valued at approximately $1,009,000.

A number of other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of Matson in the first quarter worth about $34,000. State of Wyoming boosted its stake in Matson by 495.3% in the 1st quarter. State of Wyoming now owns 381 shares of the shipping company's stock worth $49,000 after purchasing an additional 317 shares during the period. NewEdge Advisors LLC purchased a new stake in Matson during the 1st quarter valued at approximately $78,000. Covestor Ltd raised its position in shares of Matson by 30.4% during the first quarter. Covestor Ltd now owns 764 shares of the shipping company's stock valued at $98,000 after buying an additional 178 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Matson by 42.6% in the second quarter. Farther Finance Advisors LLC now owns 877 shares of the shipping company's stock worth $98,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of the firm's stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this link. 2.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MATX shares. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. Zacks Research upgraded Matson from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $131.67.

Matson Price Performance

MATX stock opened at $102.75 on Monday. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. 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 company has a fifty day simple moving average of $105.77 and a two-hundred day simple moving average of $109.99. The firm has a market capitalization of $3.27 billion, a P/E ratio of 6.95 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.74. The firm had revenue of $830.50 million for 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 business's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.31 EPS. Analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

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.

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