Matson, Inc. $MATX Holdings Increased by Retirement Planning Group LLC

Key Points

• Retirement Planning Group LLC dramatically increased its Matson stake by 12,239.4% in the third quarter, acquiring 231,691 additional shares and ending with a position worth approximately $51.3 million.
• Institutional investors own 84.76% of Matson’s stock, with BlackRock and several other major firms establishing or adding substantial positions.
• Matson reported stronger-than-expected quarterly results, with $4.27 earnings per share and $969.4 million in revenue; analysts maintain a “Moderate Buy” consensus and an average price target of $249.25.

Retirement Planning Group LLC increased its position in Matson, Inc. (NYSE:MATX - Free Report) by 12,239.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,584 shares of the shipping company's stock after buying an additional 231,691 shares during the quarter. Matson accounts for approximately 1.2% of Retirement Planning Group LLC's investment portfolio, making the stock its 16th largest position. Retirement Planning Group LLC owned approximately 0.78% of Matson worth $51,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Matson during the 2nd quarter worth approximately $952,903,000. Bank of New York Mellon Corp bought a new stake in Matson during the 2nd quarter worth approximately $50,637,000. Caisse de depot et placement du Quebec bought a new stake in Matson during the 2nd quarter worth approximately $45,796,000. Bank of America Corp DE bought a new stake in Matson during the 2nd quarter worth approximately $38,066,000. Finally, Encompass Capital Advisors LLC acquired a new position in Matson in the 1st quarter valued at approximately $32,761,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Price Performance

Shares of MATX opened at $231.44 on Tuesday. The business has a 50-day moving average of $225.55 and a 200-day 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. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 15.71 and a beta of 1.30. Matson, Inc. has a 1 year low of $92.64 and a 1 year high of $240.87.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.79 by $0.48. The business had revenue of $969.40 million for the quarter, compared to analysts' expectations of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 earnings per share. As a group, equities research analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MATX shares. Freedom Broker initiated coverage on shares of Matson in a research note on Wednesday, September 30th. They set a "buy" rating and a $260.00 price target for the company. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Zacks Research cut shares of Matson from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings upgraded Matson from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on Matson from $270.00 to $310.00 and gave the company an "overweight" rating in a report on Tuesday, October 13th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $249.25.

Insider Buying and Selling

In other news, EVP Peter Heilmann sold 5,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total value of $1,100,750.00. Following the sale, the executive vice president directly owned 20,506 shares of the company's stock, valued at approximately $4,514,395.90. This represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Leonard Isotoff sold 1,250 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total transaction of $260,375.00. Following the sale, the senior vice president owned 6,527 shares of the company's stock, valued at approximately $1,359,574.10. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,462 shares of company stock worth $2,695,832. Corporate insiders own 2.51% of the company's stock.

About Matson

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.

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